https://www.taxtmi.com/caselaws?id=383335 The Tribunal set aside the Assessing Officer's decision disallowing the deduction u/sec. 80P for the assessee due to negative business income. The Commissioner of Income Tax (Appeals) allowed the deduction based on positive business income shown by the assessee. The matter was remitted back to the Assessing Officer for further examination, emphasizing the exclusion of interest related to loans for determining business income. The appeal of the assessee was allowed for statistical purposes, providing the assessee with an opportunity to present their case. en-us Wed, 17 Jul 2019 00:00:00 +0530 Mon, 22 Jul 2019 08:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383335 The Tribunal set aside the Assessing Officer's decision disallowing the deduction u/sec. 80P for the assessee due to negative business income. The Commissioner of Income Tax (Appeals) allowed the deduction based on positive business income shown by the assessee. The matter was remitted back to the Assessing Officer for further examination, emphasizing the exclusion of interest related to loans for determining business income. The appeal of the assessee was allowed for statistical purposes, providing the assessee with an opportunity to present their case. Case-Laws Income Tax Wed, 17 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383335