https://www.taxtmi.com/caselaws?id=426893 The Tribunal upheld the Principal Commissioner of Income Tax's order under section 263 of the Income Tax Act, dismissing the appeal. The decision focused on addressing issues related to cash deposits during demonetization, taxation of interest income under "Other Sources," and deductions under sections 80P(2)(a)(i) and 80P(2)(d) of the Act. The Tribunal emphasized the need for proper examination of the source of cash deposits and correct tax treatment of interest income, modifying certain aspects of the PCIT's order for fairness in further proceedings. en-us Thu, 25 Aug 2022 00:00:00 +0530 Sat, 27 Aug 2022 08:18:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426893 The Tribunal upheld the Principal Commissioner of Income Tax's order under section 263 of the Income Tax Act, dismissing the appeal. The decision focused on addressing issues related to cash deposits during demonetization, taxation of interest income under "Other Sources," and deductions under sections 80P(2)(a)(i) and 80P(2)(d) of the Act. The Tribunal emphasized the need for proper examination of the source of cash deposits and correct tax treatment of interest income, modifying certain aspects of the PCIT's order for fairness in further proceedings. Case-Laws Income Tax Thu, 25 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426893