https://www.taxtmi.com/caselaws?id=349786 The Court dismissed the Review Petitions challenging the judgment on Income Tax Appeals related to deduction under Section 80-P(2) of the Income Tax Act, 1961. It held that the petitioner was not entitled to 100% deduction under Section 80-P(2) for interest earned on deposits with Co-operative Banks, emphasizing that changing banks did not alter the character of income. The Court clarified that its decision was not influenced by previous assessment orders or circulars, denying the deduction under Section 80-P(2)(a) or (d). The Review Petitioner was granted the option to appeal to the Supreme Court. en-us Fri, 22 Sep 2017 00:00:00 +0530 Wed, 25 Oct 2017 08:19:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349786 The Court dismissed the Review Petitions challenging the judgment on Income Tax Appeals related to deduction under Section 80-P(2) of the Income Tax Act, 1961. It held that the petitioner was not entitled to 100% deduction under Section 80-P(2) for interest earned on deposits with Co-operative Banks, emphasizing that changing banks did not alter the character of income. The Court clarified that its decision was not influenced by previous assessment orders or circulars, denying the deduction under Section 80-P(2)(a) or (d). The Review Petitioner was granted the option to appeal to the Supreme Court. Case-Laws Income Tax Fri, 22 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349786