https://www.taxtmi.com/caselaws?id=417177 The appeals of three assessees for A.Y. 2015-16, addressing delay due to COVID-19 lockdown, were allowed by the Tribunal, condoning the filing delay. Regarding section 80P(aa) deduction claims, the Tribunal reversed the Pr. CIT's direction, upholding the deduction for interest income from nationalized banks. Cooperative societies were deemed eligible for the deduction, following legal precedents. The Tribunal found no error in the Assessing Officers' acceptance of the claims, leading to the reversal of the Pr. CIT's directions. en-us Thu, 06 Jan 2022 00:00:00 +0530 Sun, 16 Jan 2022 20:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417177 The appeals of three assessees for A.Y. 2015-16, addressing delay due to COVID-19 lockdown, were allowed by the Tribunal, condoning the filing delay. Regarding section 80P(aa) deduction claims, the Tribunal reversed the Pr. CIT's direction, upholding the deduction for interest income from nationalized banks. Cooperative societies were deemed eligible for the deduction, following legal precedents. The Tribunal found no error in the Assessing Officers' acceptance of the claims, leading to the reversal of the Pr. CIT's directions. Case-Laws Income Tax Thu, 06 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417177