https://www.taxtmi.com/caselaws?id=372544 The Tribunal partly allowed the appeal of a cooperative society engaged in providing credit facilities to its members, confirming the denial of exemption under section 80P(2) for interest earned from investments in banks. The Tribunal directed the Assessing Officer to consider allowing any expenditure incurred by the assessee for earning such income and to determine the net interest income and miscellaneous income earned before excluding it from the deduction under section 80P(2) of the Income Tax Act, 1961. The decision aligned with the judgment of the jurisdictional High Court and was issued on 17th September 2018 in Ahmedabad. en-us Mon, 17 Sep 2018 00:00:00 +0530 Mon, 24 Dec 2018 17:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372544 The Tribunal partly allowed the appeal of a cooperative society engaged in providing credit facilities to its members, confirming the denial of exemption under section 80P(2) for interest earned from investments in banks. The Tribunal directed the Assessing Officer to consider allowing any expenditure incurred by the assessee for earning such income and to determine the net interest income and miscellaneous income earned before excluding it from the deduction under section 80P(2) of the Income Tax Act, 1961. The decision aligned with the judgment of the jurisdictional High Court and was issued on 17th September 2018 in Ahmedabad. Case-Laws Income Tax Mon, 17 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372544