https://www.taxtmi.com/caselaws?id=751466 The Tribunal allowed the appeal filed by the appellant, a Cooperative credit society, against the National Faceless Appeal Centre's order for the assessment year 2018-19. It held that interest income earned on fixed deposits with cooperative/scheduled banks qualifies for deduction under sections 80P(2)(a)(i) and 80P(2)(d) of the Income Tax Act, 1961. This decision, grounded in various judicial opinions, clarified the eligibility criteria for such exemptions, ultimately favoring the assessee by granting the requested tax deductions. en-us Mon, 15 Apr 2024 00:00:00 +0530 Tue, 16 Apr 2024 18:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751466 The Tribunal allowed the appeal filed by the appellant, a Cooperative credit society, against the National Faceless Appeal Centre's order for the assessment year 2018-19. It held that interest income earned on fixed deposits with cooperative/scheduled banks qualifies for deduction under sections 80P(2)(a)(i) and 80P(2)(d) of the Income Tax Act, 1961. This decision, grounded in various judicial opinions, clarified the eligibility criteria for such exemptions, ultimately favoring the assessee by granting the requested tax deductions. Case-Laws Income Tax Mon, 15 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751466