https://www.taxtmi.com/caselaws?id=449091 ITAT Surat ruled in favor of the assessee on three issues. The tribunal held that Section 80P(2)(d) allows full deduction of interest/dividends received by cooperative societies from investments in other cooperative societies, without requiring adjustment for interest paid or considering source of investment funds. Regarding rental income and cracker sales, the tribunal found no disallowance was warranted since the assessee never claimed Section 80P deductions for these income streams, having separately declared and paid taxes on them. en-us Thu, 21 Dec 2023 00:00:00 +0530 Mon, 05 Feb 2024 10:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449091 ITAT Surat ruled in favor of the assessee on three issues. The tribunal held that Section 80P(2)(d) allows full deduction of interest/dividends received by cooperative societies from investments in other cooperative societies, without requiring adjustment for interest paid or considering source of investment funds. Regarding rental income and cracker sales, the tribunal found no disallowance was warranted since the assessee never claimed Section 80P deductions for these income streams, having separately declared and paid taxes on them. Case-Laws Income Tax Thu, 21 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449091