https://www.taxtmi.com/caselaws?id=414271 The Tribunal partly allowed the appeal of the assessee, emphasizing the eligibility of interest income earned from bank investments for deduction under section 80P(2) for cooperative societies engaged in banking activities. The Tribunal set aside the CIT(A) order and directed the Assessing Officer to allow the deduction on the income earned from bank investments. The Tribunal dismissed the imposition of interest under sections 234A and 234B as consequential. The order was pronounced in open court on 28.10.2021. en-us Thu, 28 Oct 2021 00:00:00 +0530 Mon, 01 Nov 2021 07:11:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414271 The Tribunal partly allowed the appeal of the assessee, emphasizing the eligibility of interest income earned from bank investments for deduction under section 80P(2) for cooperative societies engaged in banking activities. The Tribunal set aside the CIT(A) order and directed the Assessing Officer to allow the deduction on the income earned from bank investments. The Tribunal dismissed the imposition of interest under sections 234A and 234B as consequential. The order was pronounced in open court on 28.10.2021. Case-Laws Income Tax Thu, 28 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414271