https://www.taxtmi.com/caselaws?id=439899 The appeals by the assessees challenging orders of the Principal Commissioner of Income Tax-2, Pune, and National Faceless Appeal Centre for A.Y. 2018-19 and 2020-21, regarding deduction under section 80P(2)(a)(i) or 80P(2)(d) of the Income-tax Act, 1961, were allowed. The Pune Tribunal held that interest income earned by the cooperative society from cooperative banks qualified for deduction under section 80P(2)(d) and exemption under section 80P(2)(a)(i), citing judicial precedents. The Tribunal found the assessment order not erroneous and emphasized that revisionary orders cannot stand when the issue is favorably settled by legal precedents. en-us Mon, 03 Jul 2023 00:00:00 +0530 Tue, 04 Jul 2023 14:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439899 The appeals by the assessees challenging orders of the Principal Commissioner of Income Tax-2, Pune, and National Faceless Appeal Centre for A.Y. 2018-19 and 2020-21, regarding deduction under section 80P(2)(a)(i) or 80P(2)(d) of the Income-tax Act, 1961, were allowed. The Pune Tribunal held that interest income earned by the cooperative society from cooperative banks qualified for deduction under section 80P(2)(d) and exemption under section 80P(2)(a)(i), citing judicial precedents. The Tribunal found the assessment order not erroneous and emphasized that revisionary orders cannot stand when the issue is favorably settled by legal precedents. Case-Laws Income Tax Mon, 03 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439899