https://www.taxtmi.com/caselaws?id=450755 ITAT Pune allowed deduction under section 80P(2)(a)(i) for interest income from fixed deposits with nationalized banks. The tribunal relied on its earlier decision in Sumitra Gramin Bigar Sheti Sahakari Pat Sanstha Maryadit and Madras HC ruling in Thorapadi Urban Co-operative Credit Society Ltd., which held similar interest income eligible for section 80P(2)(d) deduction. Following these precedents, ITAT directed the Assessing Officer to allow the deduction, deciding in favor of the assessee. en-us Fri, 08 Mar 2024 00:00:00 +0530 Mon, 11 Mar 2024 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450755 ITAT Pune allowed deduction under section 80P(2)(a)(i) for interest income from fixed deposits with nationalized banks. The tribunal relied on its earlier decision in Sumitra Gramin Bigar Sheti Sahakari Pat Sanstha Maryadit and Madras HC ruling in Thorapadi Urban Co-operative Credit Society Ltd., which held similar interest income eligible for section 80P(2)(d) deduction. Following these precedents, ITAT directed the Assessing Officer to allow the deduction, deciding in favor of the assessee. Case-Laws Income Tax Fri, 08 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450755