https://www.taxtmi.com/caselaws?id=416954 The Tribunal allowed the appeal, finding that the Principal Commissioner of Income Tax (Pr. CIT) exceeded jurisdiction under Section 263 by setting aside the assessment order. The Tribunal upheld the assessee's eligibility for deduction under Section 80P(2)(d) for interest income from cooperative bank investments, emphasizing adherence to judicial precedents and legislative intent. The original assessment order was reinstated, highlighting the importance of maintaining consistency with legal principles in tax assessments. en-us Fri, 07 Jan 2022 00:00:00 +0530 Wed, 12 Jan 2022 08:39:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416954 The Tribunal allowed the appeal, finding that the Principal Commissioner of Income Tax (Pr. CIT) exceeded jurisdiction under Section 263 by setting aside the assessment order. The Tribunal upheld the assessee's eligibility for deduction under Section 80P(2)(d) for interest income from cooperative bank investments, emphasizing adherence to judicial precedents and legislative intent. The original assessment order was reinstated, highlighting the importance of maintaining consistency with legal principles in tax assessments. Case-Laws Income Tax Fri, 07 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416954