https://www.taxtmi.com/caselaws?id=366250 The Tribunal partially allowed the appeal for statistical purposes, upholding the decision of the Revenue authorities to disallow the deduction under section 80P(2)(a)(i) of the Income Tax Act, 1961. The Tribunal ruled that interest income from investments in nationalized banks by a cooperative society providing credit facilities to members was not eligible for the deduction. The Tribunal directed the AO to determine the net interest income and miscellaneous income earned by the assessee, excluding them from the deduction under section 80P(2) of the Act. en-us Wed, 29 Aug 2018 00:00:00 +0530 Thu, 30 Aug 2018 16:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366250 The Tribunal partially allowed the appeal for statistical purposes, upholding the decision of the Revenue authorities to disallow the deduction under section 80P(2)(a)(i) of the Income Tax Act, 1961. The Tribunal ruled that interest income from investments in nationalized banks by a cooperative society providing credit facilities to members was not eligible for the deduction. The Tribunal directed the AO to determine the net interest income and miscellaneous income earned by the assessee, excluding them from the deduction under section 80P(2) of the Act. Case-Laws Income Tax Wed, 29 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366250