https://www.taxtmi.com/caselaws?id=396523 Delay in filing the appeal was condoned, and the appeal was admitted and heard. Deductions under Section 80P(2)(a)(i) and Section 80P(2)(d) were disallowed for interest income from fixed deposits. The tribunal referred the issue of interest income classification to the CIT (Appeals) for fresh adjudication. The eligibility of nominal members for deductions under Section 80P(2)(a)(i) was also referred back for reconsideration, emphasizing the need for detailed examination. The appeal was allowed for statistical purposes, ensuring the assessee's right to a fair hearing and submission of documents. en-us Mon, 06 Jul 2020 00:00:00 +0530 Thu, 09 Jul 2020 10:24:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396523 Delay in filing the appeal was condoned, and the appeal was admitted and heard. Deductions under Section 80P(2)(a)(i) and Section 80P(2)(d) were disallowed for interest income from fixed deposits. The tribunal referred the issue of interest income classification to the CIT (Appeals) for fresh adjudication. The eligibility of nominal members for deductions under Section 80P(2)(a)(i) was also referred back for reconsideration, emphasizing the need for detailed examination. The appeal was allowed for statistical purposes, ensuring the assessee's right to a fair hearing and submission of documents. Case-Laws Income Tax Mon, 06 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396523