https://www.taxtmi.com/caselaws?id=294625 The ITAT allowed the appeal of the assessee, directing the AO to allow deduction u/s 80P for interest income from both regular and associate members. The ITAT set aside the CIT (A) order disallowing the deduction claimed under section 80P of the Income Tax Act, emphasizing equal treatment for regular and associate members. Additionally, the ITAT instructed a reevaluation of the facts concerning the disallowed deduction for bank interest in light of conflicting judgments, overturning the CIT (A) decision. No adjudication was deemed necessary on the non-deduction of TDS from interest paid to members. en-us Thu, 26 Dec 2019 00:00:00 +0530 Fri, 23 Apr 2021 21:02:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294625 The ITAT allowed the appeal of the assessee, directing the AO to allow deduction u/s 80P for interest income from both regular and associate members. The ITAT set aside the CIT (A) order disallowing the deduction claimed under section 80P of the Income Tax Act, emphasizing equal treatment for regular and associate members. Additionally, the ITAT instructed a reevaluation of the facts concerning the disallowed deduction for bank interest in light of conflicting judgments, overturning the CIT (A) decision. No adjudication was deemed necessary on the non-deduction of TDS from interest paid to members. Case-Laws Income Tax Thu, 26 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294625