https://www.taxtmi.com/caselaws?id=302526 The appeal was filed by the revenue against the order passed by the CIT (A) for Assessment Year 2013-14, disallowing the deduction claimed under section 80P on interest income earned by the assessee from two banks. The Tribunal upheld the CIT (A)'s decision, stating that the interest income was attributable to the business activities of the assessee and eligible for deduction under section 80P. The appeal of the revenue was dismissed, and the entire addition was deleted in favor of the assessee. The judgment emphasizes the consistency in applying legal principles and the significance of previous judicial precedents in determining tax liabilities. en-us Fri, 12 Nov 2021 00:00:00 +0530 Wed, 01 Jun 2022 19:04:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302526 The appeal was filed by the revenue against the order passed by the CIT (A) for Assessment Year 2013-14, disallowing the deduction claimed under section 80P on interest income earned by the assessee from two banks. The Tribunal upheld the CIT (A)'s decision, stating that the interest income was attributable to the business activities of the assessee and eligible for deduction under section 80P. The appeal of the revenue was dismissed, and the entire addition was deleted in favor of the assessee. The judgment emphasizes the consistency in applying legal principles and the significance of previous judicial precedents in determining tax liabilities. Case-Laws Income Tax Fri, 12 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302526