https://www.taxtmi.com/caselaws?id=274221 The Tribunal allowed the appeal, directing the AO to grant the assessee the deduction under section 80P(2)(a)(i) for interest income from fixed deposits. The Tribunal held that the interest income should be treated as business income, eligible for deduction, distinguishing it from income from other sources. The decision overturned the CIT(A)'s order, recognizing the assessee as a co-operative credit society entitled to the deduction. The appeal was partly allowed, and the alternative grounds raised by the assessee were not addressed. en-us Wed, 29 Jun 2016 00:00:00 +0530 Fri, 03 Aug 2018 07:56:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274221 The Tribunal allowed the appeal, directing the AO to grant the assessee the deduction under section 80P(2)(a)(i) for interest income from fixed deposits. The Tribunal held that the interest income should be treated as business income, eligible for deduction, distinguishing it from income from other sources. The decision overturned the CIT(A)'s order, recognizing the assessee as a co-operative credit society entitled to the deduction. The appeal was partly allowed, and the alternative grounds raised by the assessee were not addressed. Case-Laws Income Tax Wed, 29 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274221