https://www.taxtmi.com/caselaws?id=300737 The Court allowed the appeal filed by the Revenue, set aside the Income Tax Appellate Tribunal's order denying the claim for deduction under Section 80P(2)(a)(i) for the assessment year 2015-16, and remanded the matter back to the Tribunal for fresh consideration. The Court emphasized the correct application and interpretation of Section 80P(2)(a)(i) and the importance of adhering to well-settled principles of statutory interpretation. The judgment underscored the need for a comprehensive reevaluation of the facts and legal aspects involved in the case, particularly regarding the interpretation of bye-laws and the MSCS Act in relation to the deduction in taxable income. en-us Tue, 09 Mar 2021 00:00:00 +0530 Tue, 22 Feb 2022 10:51:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300737 The Court allowed the appeal filed by the Revenue, set aside the Income Tax Appellate Tribunal's order denying the claim for deduction under Section 80P(2)(a)(i) for the assessment year 2015-16, and remanded the matter back to the Tribunal for fresh consideration. The Court emphasized the correct application and interpretation of Section 80P(2)(a)(i) and the importance of adhering to well-settled principles of statutory interpretation. The judgment underscored the need for a comprehensive reevaluation of the facts and legal aspects involved in the case, particularly regarding the interpretation of bye-laws and the MSCS Act in relation to the deduction in taxable income. Case-Laws Income Tax Tue, 09 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300737