https://www.taxtmi.com/caselaws?id=191370 The Appellate Tribunal (ITAT Cochin) upheld the disallowance of a deduction claimed under section 80P(2)(c) of the Income-tax Act for the assessment year 2009-10, ruling that rental income from letting out property did not qualify for the exemption. The Tribunal followed the Kerala High Court's interpretation that such rental income did not constitute an eligible activity under section 80P(2)(c), citing conflicting opinions from other High Courts. In the absence of a Supreme Court judgment on the issue, the Tribunal deemed the Kerala High Court's stance binding until clarified by a higher court. en-us Fri, 25 Apr 2014 00:00:00 +0530 Sat, 01 Apr 2017 10:10:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191370 The Appellate Tribunal (ITAT Cochin) upheld the disallowance of a deduction claimed under section 80P(2)(c) of the Income-tax Act for the assessment year 2009-10, ruling that rental income from letting out property did not qualify for the exemption. The Tribunal followed the Kerala High Court's interpretation that such rental income did not constitute an eligible activity under section 80P(2)(c), citing conflicting opinions from other High Courts. In the absence of a Supreme Court judgment on the issue, the Tribunal deemed the Kerala High Court's stance binding until clarified by a higher court. Case-Laws Income Tax Fri, 25 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191370