https://www.taxtmi.com/caselaws?id=437354 The Tribunal ruled in favor of the assessee, holding that interest income from deposits in cooperative banks is eligible for deduction under sections 80P(2)(a)(i) and 80P(2)(d) of the Income Tax Act, 1961. The Tribunal found that the Principal Commissioner of Income Tax's revision directions, which disallowed the deduction, were not sustainable in law. The Tribunal reversed the revision directions and restored the original assessment, deciding in favor of the assessee. en-us Tue, 02 May 2023 00:00:00 +0530 Wed, 03 May 2023 15:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437354 The Tribunal ruled in favor of the assessee, holding that interest income from deposits in cooperative banks is eligible for deduction under sections 80P(2)(a)(i) and 80P(2)(d) of the Income Tax Act, 1961. The Tribunal found that the Principal Commissioner of Income Tax's revision directions, which disallowed the deduction, were not sustainable in law. The Tribunal reversed the revision directions and restored the original assessment, deciding in favor of the assessee. Case-Laws Income Tax Tue, 02 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437354