https://www.taxtmi.com/caselaws?id=751416 The ITAT Surat ruled in favor of the assessee co-operative society, allowing deduction under section 80P(2)(d) for gross interest received from a co-operative bank. The tribunal held that the deduction should be calculated on gross interest without adjusting interest paid to the bank, relying on the Gujarat HC decision in Surat VankarSahakari Sangh Ltd. The assessee's appeal was allowed, establishing that the issue was no longer res judicata. en-us Fri, 12 Apr 2024 00:00:00 +0530 Tue, 16 Apr 2024 08:24:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751416 The ITAT Surat ruled in favor of the assessee co-operative society, allowing deduction under section 80P(2)(d) for gross interest received from a co-operative bank. The tribunal held that the deduction should be calculated on gross interest without adjusting interest paid to the bank, relying on the Gujarat HC decision in Surat VankarSahakari Sangh Ltd. The assessee's appeal was allowed, establishing that the issue was no longer res judicata. Case-Laws Income Tax Fri, 12 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751416