https://www.taxtmi.com/caselaws?id=436013 The tribunal allowed the assessee's appeal, reversing the PCIT's revision directions under section 263 of the Act. The tribunal held that the interest income from deposits in cooperative banks was eligible for deduction under section 80P(2)(d), differing from the PCIT's position. It found that the PCIT exceeded jurisdiction by reviewing the AO's assessment order and restored the original assessment order in favor of the assessee. en-us Thu, 30 Mar 2023 00:00:00 +0530 Fri, 31 Mar 2023 17:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436013 The tribunal allowed the assessee's appeal, reversing the PCIT's revision directions under section 263 of the Act. The tribunal held that the interest income from deposits in cooperative banks was eligible for deduction under section 80P(2)(d), differing from the PCIT's position. It found that the PCIT exceeded jurisdiction by reviewing the AO's assessment order and restored the original assessment order in favor of the assessee. Case-Laws Income Tax Thu, 30 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436013