https://www.taxtmi.com/caselaws?id=436158 The Tribunal emphasized a liberal interpretation of section 80P of the Income Tax Act, directing the Assessing Officer to reconsider the eligibility of a Co-operative Bank for deduction and exemption on interest income. The Tribunal found procedural irregularities in the assessment process, ordering a fresh examination by the AO to ensure a fair opportunity for the appellant. The Tribunal allowed the appeal, remitting the issues back to the AO for proper consideration in accordance with the law. en-us Wed, 08 Mar 2023 00:00:00 +0530 Wed, 05 Apr 2023 09:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436158 The Tribunal emphasized a liberal interpretation of section 80P of the Income Tax Act, directing the Assessing Officer to reconsider the eligibility of a Co-operative Bank for deduction and exemption on interest income. The Tribunal found procedural irregularities in the assessment process, ordering a fresh examination by the AO to ensure a fair opportunity for the appellant. The Tribunal allowed the appeal, remitting the issues back to the AO for proper consideration in accordance with the law. Case-Laws Income Tax Wed, 08 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436158