https://www.taxtmi.com/caselaws?id=277471 The Tribunal upheld the decision of the Ld CIT(A) to allow the deduction for interest income from co-operative banks under Sec. 80P(2)(d) of the Income Tax Act. Despite conflicting views from different High Courts, the Tribunal applied the principle favoring the assessee, following the Supreme Court's ruling in Vegetable Products Ltd case. The revenue's appeals challenging the deduction were dismissed, affirming that interest income from co-operative banks qualifies for deduction as per the Act. en-us Fri, 08 Dec 2017 00:00:00 +0530 Wed, 05 Dec 2018 06:34:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277471 The Tribunal upheld the decision of the Ld CIT(A) to allow the deduction for interest income from co-operative banks under Sec. 80P(2)(d) of the Income Tax Act. Despite conflicting views from different High Courts, the Tribunal applied the principle favoring the assessee, following the Supreme Court's ruling in Vegetable Products Ltd case. The revenue's appeals challenging the deduction were dismissed, affirming that interest income from co-operative banks qualifies for deduction as per the Act. Case-Laws Income Tax Fri, 08 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277471