https://www.taxtmi.com/caselaws?id=431238 The Tribunal allowed the appeal, determining that the Principal Commissioner's revision order under section 263 was invalid. The Tribunal held that the assessment order was not erroneous or prejudicial to revenue interests as the income earned from cooperative banks was eligible for deduction under sections 80P(2)(a)(i) and 80P(2)(d) based on judicial precedents. Consequently, the grounds of appeal raised by the appellant were accepted, and the Principal Commissioner's decision was deemed unsustainable in law. en-us Tue, 29 Nov 2022 00:00:00 +0530 Thu, 08 Dec 2022 11:49:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431238 The Tribunal allowed the appeal, determining that the Principal Commissioner's revision order under section 263 was invalid. The Tribunal held that the assessment order was not erroneous or prejudicial to revenue interests as the income earned from cooperative banks was eligible for deduction under sections 80P(2)(a)(i) and 80P(2)(d) based on judicial precedents. Consequently, the grounds of appeal raised by the appellant were accepted, and the Principal Commissioner's decision was deemed unsustainable in law. Case-Laws Income Tax Tue, 29 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431238