https://www.taxtmi.com/caselaws?id=440631 The ITAT Ahmedabad allowed the appeal of the assessee, a Cooperative Housing Society, in a case involving disallowed deduction under Section 80P(2)(d) for interest income earned on investments in a Cooperative Bank. The ITAT held that the appellant was entitled to the deduction based on Supreme Court decisions. Additionally, the ITAT deemed the additional income tax demand under Section 143(1) and the levying of interest under Sections 234B & 234C as incorrect, ruling in favor of the assessee. en-us Wed, 19 Jul 2023 00:00:00 +0530 Sat, 22 Jul 2023 23:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440631 The ITAT Ahmedabad allowed the appeal of the assessee, a Cooperative Housing Society, in a case involving disallowed deduction under Section 80P(2)(d) for interest income earned on investments in a Cooperative Bank. The ITAT held that the appellant was entitled to the deduction based on Supreme Court decisions. Additionally, the ITAT deemed the additional income tax demand under Section 143(1) and the levying of interest under Sections 234B & 234C as incorrect, ruling in favor of the assessee. Case-Laws Income Tax Wed, 19 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440631