https://www.taxtmi.com/caselaws?id=437891 The Tribunal allowed the appeal against the order of the National Faceless Appeal Centre (NFAC), Delhi, disallowing interest income from FDRs with the Ahmedabad District Cooperative Bank for the Assessment Year 2017-18. The Tribunal held that the bank, being a Co-operative Society, justified deduction under Section 80P(2)(d) of the Act, in line with relevant court decisions and the Gujarat High Court's stance. The appeal was allowed, overturning the CIT(A)'s decision, and the assessee was deemed eligible for the deduction. en-us Wed, 10 May 2023 00:00:00 +0530 Tue, 16 May 2023 18:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437891 The Tribunal allowed the appeal against the order of the National Faceless Appeal Centre (NFAC), Delhi, disallowing interest income from FDRs with the Ahmedabad District Cooperative Bank for the Assessment Year 2017-18. The Tribunal held that the bank, being a Co-operative Society, justified deduction under Section 80P(2)(d) of the Act, in line with relevant court decisions and the Gujarat High Court's stance. The appeal was allowed, overturning the CIT(A)'s decision, and the assessee was deemed eligible for the deduction. Case-Laws Income Tax Wed, 10 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437891