https://www.taxtmi.com/caselaws?id=370093 The Tribunal held that the interest income earned by a Co-operative Society on fixed deposits with nationalized banks and private sector banks was eligible for deduction under section 80P(2)(a)(i) of the Income Tax Act. The decision favored the assessee, allowing the appeals for assessment years 2012-13 and 2013-14. The Tribunal emphasized that interest income on fixed deposits, related to providing credit facilities to members, qualifies for deduction under the mentioned section, following the principle of adopting a view favorable to the assessee when two views are possible. en-us Fri, 26 Oct 2018 00:00:00 +0530 Fri, 09 Nov 2018 19:03:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370093 The Tribunal held that the interest income earned by a Co-operative Society on fixed deposits with nationalized banks and private sector banks was eligible for deduction under section 80P(2)(a)(i) of the Income Tax Act. The decision favored the assessee, allowing the appeals for assessment years 2012-13 and 2013-14. The Tribunal emphasized that interest income on fixed deposits, related to providing credit facilities to members, qualifies for deduction under the mentioned section, following the principle of adopting a view favorable to the assessee when two views are possible. Case-Laws Income Tax Fri, 26 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370093