https://www.taxtmi.com/caselaws?id=405605 The Tribunal allowed the appeal for statistical purposes, setting aside the CIT(A)'s decision on both issues and instructing a fresh examination by the Assessing Officer in light of the relevant legal precedents. The Tribunal emphasized the need to reexamine the case in line with the principles laid down by the Apex Court and directed a reconsideration of the taxability of interest income from deposits with Co-operative Banks based on judgments of the Apex Court and the Karnataka High Court, focusing on the source of funds for investments. en-us Fri, 19 Mar 2021 00:00:00 +0530 Wed, 24 Mar 2021 09:06:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405605 The Tribunal allowed the appeal for statistical purposes, setting aside the CIT(A)'s decision on both issues and instructing a fresh examination by the Assessing Officer in light of the relevant legal precedents. The Tribunal emphasized the need to reexamine the case in line with the principles laid down by the Apex Court and directed a reconsideration of the taxability of interest income from deposits with Co-operative Banks based on judgments of the Apex Court and the Karnataka High Court, focusing on the source of funds for investments. Case-Laws Income Tax Fri, 19 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405605