https://www.taxtmi.com/caselaws?id=302086 The Tribunal upheld the CIT(A)'s order, ruling in favor of the assessee and dismissing the Revenue's appeal. The decision emphasized that interest income must be attributable to the business activities of the appellant for eligibility under Sec. 80-P of the Income Tax Act. This ruling sets a significant legal precedent for similar cases, highlighting the importance of interpreting the law and relevant case laws to determine the applicability of deductions for interest income earned by cooperative credit societies. en-us Mon, 31 Jul 2017 00:00:00 +0530 Wed, 04 May 2022 20:56:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302086 The Tribunal upheld the CIT(A)'s order, ruling in favor of the assessee and dismissing the Revenue's appeal. The decision emphasized that interest income must be attributable to the business activities of the appellant for eligibility under Sec. 80-P of the Income Tax Act. This ruling sets a significant legal precedent for similar cases, highlighting the importance of interpreting the law and relevant case laws to determine the applicability of deductions for interest income earned by cooperative credit societies. Case-Laws Income Tax Mon, 31 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302086