https://www.taxtmi.com/caselaws?id=433017 The Tribunal ruled in favor of the assessee, allowing the deduction under Section 80P for interest income from investments in cooperative banks and reversing the Principal Commissioner of Income Tax's revision directions. The Tribunal held that interest income from cooperative banks qualifies for deduction under Section 80P(2)(d), emphasizing the cooperative nature of such banks. The Tribunal found the Assessing Officer's original assessment order to be legally sustainable and set aside the revision by the Principal Commissioner of Income Tax under Section 263. en-us Thu, 05 Jan 2023 00:00:00 +0530 Thu, 19 Jan 2023 08:38:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433017 The Tribunal ruled in favor of the assessee, allowing the deduction under Section 80P for interest income from investments in cooperative banks and reversing the Principal Commissioner of Income Tax's revision directions. The Tribunal held that interest income from cooperative banks qualifies for deduction under Section 80P(2)(d), emphasizing the cooperative nature of such banks. The Tribunal found the Assessing Officer's original assessment order to be legally sustainable and set aside the revision by the Principal Commissioner of Income Tax under Section 263. Case-Laws Income Tax Thu, 05 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433017