https://www.taxtmi.com/caselaws?id=437405 The Tribunal quashed the reassessment proceedings for AY 2013-14, upholding the deduction under Section 80P(2)(d) for interest from cooperative banks. The issue of deduction for interest from nationalized banks was remanded for fresh adjudication. The penalty under Section 272A(1)(d) was deleted due to bona fide reasons for non-compliance. The decisions were in line with legal principles and precedents, ensuring adherence to statutory requirements and natural justice. en-us Thu, 27 Apr 2023 00:00:00 +0530 Thu, 04 May 2023 10:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437405 The Tribunal quashed the reassessment proceedings for AY 2013-14, upholding the deduction under Section 80P(2)(d) for interest from cooperative banks. The issue of deduction for interest from nationalized banks was remanded for fresh adjudication. The penalty under Section 272A(1)(d) was deleted due to bona fide reasons for non-compliance. The decisions were in line with legal principles and precedents, ensuring adherence to statutory requirements and natural justice. Case-Laws Income Tax Thu, 27 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437405