https://www.taxtmi.com/caselaws?id=419085 The appellant challenged the disallowance of deductions under section 80P(2)(a)(i) by the Assessing Officer and its confirmation by the First Appellate Authority. The Tribunal set aside the CIT(A)'s order and directed a fresh examination based on the Supreme Court's principles, emphasizing the crucial definition of "members." Additionally, the Tribunal directed the Assessing Officer to allow deductions for proportionate costs and expenses related to interest income earned from bank deposits under section 80P(2)(d). The appeal was allowed for statistical purposes, with a fresh examination ordered based on relevant legal principles. en-us Thu, 03 Feb 2022 00:00:00 +0530 Thu, 03 Mar 2022 06:49:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419085 The appellant challenged the disallowance of deductions under section 80P(2)(a)(i) by the Assessing Officer and its confirmation by the First Appellate Authority. The Tribunal set aside the CIT(A)'s order and directed a fresh examination based on the Supreme Court's principles, emphasizing the crucial definition of "members." Additionally, the Tribunal directed the Assessing Officer to allow deductions for proportionate costs and expenses related to interest income earned from bank deposits under section 80P(2)(d). The appeal was allowed for statistical purposes, with a fresh examination ordered based on relevant legal principles. Case-Laws Income Tax Thu, 03 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419085