https://www.taxtmi.com/caselaws?id=438986 The Tribunal condoned a 151-day delay in filing the appeal, accepting the assessee's explanation of communication gaps and applying the principle that technical lapses should not defeat substantial justice. On the substantive issue, it held that interest income earned from fixed deposits placed with a cooperative bank was eligible for deduction under section 80P(2)(d). The Tribunal followed earlier decisions supporting deduction for interest derived from investments with cooperative societies and found the source of the investment to be irrelevant for this provision. The assessee's appeal was therefore allowed. en-us Wed, 23 Nov 2022 00:00:00 +0530 Tue, 13 Jun 2023 17:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438986 The Tribunal condoned a 151-day delay in filing the appeal, accepting the assessee's explanation of communication gaps and applying the principle that technical lapses should not defeat substantial justice. On the substantive issue, it held that interest income earned from fixed deposits placed with a cooperative bank was eligible for deduction under section 80P(2)(d). The Tribunal followed earlier decisions supporting deduction for interest derived from investments with cooperative societies and found the source of the investment to be irrelevant for this provision. The assessee's appeal was therefore allowed. Case-Laws Income Tax Wed, 23 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438986