https://www.taxtmi.com/caselaws?id=276273 The Tribunal held that the interest income earned from fixed deposits with nationalized banks should be treated as business income eligible for deduction under Section 80P(2)(a)(i) of the Income Tax Act. The assessee cooperative society was found entitled to the deduction, overturning the decision of the Commissioner of Income Tax (Appeals). The Tribunal's decision was pronounced on 26-08-2016, allowing the appeal and setting aside the earlier order. en-us Fri, 26 Aug 2016 00:00:00 +0530 Sun, 04 Nov 2018 20:30:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276273 The Tribunal held that the interest income earned from fixed deposits with nationalized banks should be treated as business income eligible for deduction under Section 80P(2)(a)(i) of the Income Tax Act. The assessee cooperative society was found entitled to the deduction, overturning the decision of the Commissioner of Income Tax (Appeals). The Tribunal's decision was pronounced on 26-08-2016, allowing the appeal and setting aside the earlier order. Case-Laws Income Tax Fri, 26 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276273