https://www.taxtmi.com/caselaws?id=405780 A revisional direction under section 263 that required the assessment to be redone afresh did not preclude appellate examination of the grants-in-aid issue on merits, because the Assessing Officer was not bound to decide it in any particular manner; the matter was remanded to the Commissioner (Appeals) for fresh adjudication in accordance with law. On deduction under section 80P(2)(d), interest earned from fixed deposits with a co-operative bank was treated as qualifying income from investments with another co-operative society, with the beneficial provision construed liberally in favour of the assessee; the deduction was allowed and the addition deleted. en-us Wed, 24 Mar 2021 00:00:00 +0530 Sat, 27 Mar 2021 07:39:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405780 A revisional direction under section 263 that required the assessment to be redone afresh did not preclude appellate examination of the grants-in-aid issue on merits, because the Assessing Officer was not bound to decide it in any particular manner; the matter was remanded to the Commissioner (Appeals) for fresh adjudication in accordance with law. On deduction under section 80P(2)(d), interest earned from fixed deposits with a co-operative bank was treated as qualifying income from investments with another co-operative society, with the beneficial provision construed liberally in favour of the assessee; the deduction was allowed and the addition deleted. Case-Laws Income Tax Wed, 24 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405780