https://www.taxtmi.com/caselaws?id=425134 The Tribunal allowed the assessee's appeal, holding that the Principal Commissioner's revision order was not legally sustainable. The judgment emphasizes the importance of proper inquiry by the Assessing Officer before allowing deduction claims under the Income Tax Act. It also confirms the eligibility of interest income from deposits with nationalized banks for exemption under section 80P(2) based on legal precedents and judicial interpretations. en-us Thu, 14 Jul 2022 00:00:00 +0530 Fri, 15 Jul 2022 14:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425134 The Tribunal allowed the assessee's appeal, holding that the Principal Commissioner's revision order was not legally sustainable. The judgment emphasizes the importance of proper inquiry by the Assessing Officer before allowing deduction claims under the Income Tax Act. It also confirms the eligibility of interest income from deposits with nationalized banks for exemption under section 80P(2) based on legal precedents and judicial interpretations. Case-Laws Income Tax Thu, 14 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425134