https://www.taxtmi.com/caselaws?id=388936 The tribunal partially allowed the appeal by reducing the disallowance of business promotion expenses to Rs. 1,00,000. It directed the Assessing Officer to re-compute the disallowance of section 80P(2)(a)(i) deduction on a netting basis, considering interest income earned from investments. The tribunal emphasized that the interest income derived from investments is not eligible for deduction under section 80P(2)(a)(i) and specified a timeframe for the re-computation process. en-us Fri, 22 Nov 2019 00:00:00 +0530 Wed, 27 Nov 2019 13:39:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388936 The tribunal partially allowed the appeal by reducing the disallowance of business promotion expenses to Rs. 1,00,000. It directed the Assessing Officer to re-compute the disallowance of section 80P(2)(a)(i) deduction on a netting basis, considering interest income earned from investments. The tribunal emphasized that the interest income derived from investments is not eligible for deduction under section 80P(2)(a)(i) and specified a timeframe for the re-computation process. Case-Laws Income Tax Fri, 22 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388936