https://www.taxtmi.com/caselaws?id=385280 The Tribunal allowed both appeals, overturning the decisions of the Ld CIT(A) and directing the AO to permit the deduction u/s. 80P of the Act for the interest income earned from bank deposits by the cooperative society for the assessment years in question. The Tribunal held that the interest income should be treated as business income, making it eligible for the deduction under section 80P(2)(a)(i) of the Act, in line with decisions from other benches and High Courts. en-us Wed, 28 Aug 2019 00:00:00 +0530 Sat, 31 Aug 2019 15:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385280 The Tribunal allowed both appeals, overturning the decisions of the Ld CIT(A) and directing the AO to permit the deduction u/s. 80P of the Act for the interest income earned from bank deposits by the cooperative society for the assessment years in question. The Tribunal held that the interest income should be treated as business income, making it eligible for the deduction under section 80P(2)(a)(i) of the Act, in line with decisions from other benches and High Courts. Case-Laws Income Tax Wed, 28 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385280