https://www.taxtmi.com/caselaws?id=282949 The Tribunal ruled in favor of the assessee, allowing the deduction claimed under section 80P(2)(a)(i) for interest income earned from banks in both assessment years. The Tribunal found that the interest income was attributable to the business of banking and providing credit facilities, making it eligible for the deduction under section 80P. The decision was influenced by a Karnataka High Court ruling that clarified the Supreme Court judgment cited by the revenue authorities was specific to the facts of that case. en-us Fri, 22 Apr 2016 00:00:00 +0530 Sat, 31 Aug 2019 16:49:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282949 The Tribunal ruled in favor of the assessee, allowing the deduction claimed under section 80P(2)(a)(i) for interest income earned from banks in both assessment years. The Tribunal found that the interest income was attributable to the business of banking and providing credit facilities, making it eligible for the deduction under section 80P. The decision was influenced by a Karnataka High Court ruling that clarified the Supreme Court judgment cited by the revenue authorities was specific to the facts of that case. Case-Laws Income Tax Fri, 22 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282949