https://www.taxtmi.com/caselaws?id=288085 The Tribunal emphasized adherence to amended provisions of the IT Act and relevant circulars, determining regional rural banks' ineligibility for deduction under Section 80P. The case underscored statutory amendments and circulars' significance in interpreting tax laws and granting exemptions to ensure compliance with legislative intent. The Tribunal referred the issue of exemption for dividend income back to the Ld. CIT (A) for reevaluation in light of the circulars clarifying regional rural banks' exclusion from claiming deductions under Section 80P from the specified assessment year. en-us Thu, 26 Oct 2017 00:00:00 +0530 Tue, 19 May 2020 10:20:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288085 The Tribunal emphasized adherence to amended provisions of the IT Act and relevant circulars, determining regional rural banks' ineligibility for deduction under Section 80P. The case underscored statutory amendments and circulars' significance in interpreting tax laws and granting exemptions to ensure compliance with legislative intent. The Tribunal referred the issue of exemption for dividend income back to the Ld. CIT (A) for reevaluation in light of the circulars clarifying regional rural banks' exclusion from claiming deductions under Section 80P from the specified assessment year. Case-Laws Income Tax Thu, 26 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288085