https://www.taxtmi.com/caselaws?id=432525 The appeal filed by the Cooperative Society was allowed by the Appellate Tribunal ITAT Bangalore, setting aside the penalty imposed under section 270A of the Income Tax Act. The Tribunal determined that since the assessee did not claim the deduction under section 80P(2)(d) for interest income from RECL, the penalty could not be upheld, leading to the favorable outcome for the assessee. en-us Thu, 05 Jan 2023 00:00:00 +0530 Fri, 20 Feb 2026 17:21:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432525 The appeal filed by the Cooperative Society was allowed by the Appellate Tribunal ITAT Bangalore, setting aside the penalty imposed under section 270A of the Income Tax Act. The Tribunal determined that since the assessee did not claim the deduction under section 80P(2)(d) for interest income from RECL, the penalty could not be upheld, leading to the favorable outcome for the assessee. Case-Laws Income Tax Thu, 05 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432525