https://www.taxtmi.com/caselaws?id=379695 The Tribunal upheld the CIT(A)'s decision to grant deduction u/s 80P(2)(a)(i) of the I.T. Act for interest income received by the primary agricultural credit society on investments made with District Co-operative Banks and other Banks. The Tribunal ruled that the interest income was part of the banking activity of the assessee, making it eligible for the deduction. Citing relevant judicial precedents, including a Karnataka High Court judgment, the Tribunal dismissed the Revenue's appeals and confirmed the entitlement to the deduction. en-us Thu, 02 May 2019 00:00:00 +0530 Mon, 06 May 2019 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379695 The Tribunal upheld the CIT(A)'s decision to grant deduction u/s 80P(2)(a)(i) of the I.T. Act for interest income received by the primary agricultural credit society on investments made with District Co-operative Banks and other Banks. The Tribunal ruled that the interest income was part of the banking activity of the assessee, making it eligible for the deduction. Citing relevant judicial precedents, including a Karnataka High Court judgment, the Tribunal dismissed the Revenue's appeals and confirmed the entitlement to the deduction. Case-Laws Income Tax Thu, 02 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379695