https://www.taxtmi.com/caselaws?id=294983 The ITAT upheld the CIT(A)'s decision, allowing the assessee a deduction under Section 80P(2)(d) on a net income of Rs. 1,36,41,639. It was determined that there was no direct nexus between interest/dividend income and interest expenditure, and interest income from co-operative banks was deemed eligible for deduction. The ITAT dismissed the revenue's appeal, affirming the CIT(A)'s order. The decision was rendered on 18-04-2017. en-us Tue, 18 Apr 2017 00:00:00 +0530 Wed, 21 Sep 2022 11:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294983 The ITAT upheld the CIT(A)'s decision, allowing the assessee a deduction under Section 80P(2)(d) on a net income of Rs. 1,36,41,639. It was determined that there was no direct nexus between interest/dividend income and interest expenditure, and interest income from co-operative banks was deemed eligible for deduction. The ITAT dismissed the revenue's appeal, affirming the CIT(A)'s order. The decision was rendered on 18-04-2017. Case-Laws Income Tax Tue, 18 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294983