https://www.taxtmi.com/caselaws?id=274047 The Tribunal dismissed the Revenue's appeal challenging the deletion of interest income addition under section 80P(2)(d) and the disallowance under section 14A in the Co-op. Society's case. The Tribunal held that section 14A was wrongly invoked as the deductions claimed were part of total income computation, not exempted income. Emphasizing the assessee's financial position and previous decisions, the Tribunal upheld the Ld. CIT(A)'s decision, concluding that section 14A did not apply in this scenario, ultimately dismissing the Revenue's appeal. en-us Fri, 23 Dec 2016 00:00:00 +0530 Thu, 26 Jul 2018 08:50:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274047 The Tribunal dismissed the Revenue's appeal challenging the deletion of interest income addition under section 80P(2)(d) and the disallowance under section 14A in the Co-op. Society's case. The Tribunal held that section 14A was wrongly invoked as the deductions claimed were part of total income computation, not exempted income. Emphasizing the assessee's financial position and previous decisions, the Tribunal upheld the Ld. CIT(A)'s decision, concluding that section 14A did not apply in this scenario, ultimately dismissing the Revenue's appeal. Case-Laws Income Tax Fri, 23 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274047