https://www.taxtmi.com/caselaws?id=398845 The Tribunal ruled in favor of the assessee on both issues, allowing deductions under sections 80P(2)(d) and 80P(2)(a)(i) of the Income-tax Act for interest income earned from investments with co-operative banks and interest income received on refunds u/s 244A, respectively. The Tribunal emphasized that the income must be linked to the business activities of providing credit facilities to qualify for deductions, overturning the Pr. CIT's decision to disallow the deductions. en-us Wed, 23 Sep 2020 00:00:00 +0530 Fri, 25 Sep 2020 09:52:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398845 The Tribunal ruled in favor of the assessee on both issues, allowing deductions under sections 80P(2)(d) and 80P(2)(a)(i) of the Income-tax Act for interest income earned from investments with co-operative banks and interest income received on refunds u/s 244A, respectively. The Tribunal emphasized that the income must be linked to the business activities of providing credit facilities to qualify for deductions, overturning the Pr. CIT's decision to disallow the deductions. Case-Laws Income Tax Wed, 23 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398845