https://www.taxtmi.com/caselaws?id=416098 The Tribunal dismissed the appellant's appeal, emphasizing that income from non-members is not deductible under section 80P(2)(a)(i) of the Income Tax Act, 1961. It directed the Assessing Officer to calculate net interest income by deducting related expenses and clarified the eligibility criteria for deductions under section 80P(2)(c) for activities not covered by section 80P(2)(a)(i). The appeal was partly allowed for statistical purposes, granting a basic exemption of Rs. 50,000 for income not eligible under section 80P(2)(a)(i). en-us Thu, 25 Nov 2021 00:00:00 +0530 Tue, 21 Dec 2021 08:44:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416098 The Tribunal dismissed the appellant's appeal, emphasizing that income from non-members is not deductible under section 80P(2)(a)(i) of the Income Tax Act, 1961. It directed the Assessing Officer to calculate net interest income by deducting related expenses and clarified the eligibility criteria for deductions under section 80P(2)(c) for activities not covered by section 80P(2)(a)(i). The appeal was partly allowed for statistical purposes, granting a basic exemption of Rs. 50,000 for income not eligible under section 80P(2)(a)(i). Case-Laws Income Tax Thu, 25 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416098