https://www.taxtmi.com/caselaws?id=752340 The ITAT allowed the appeal of a Credit Cooperative Society, ruling that interest income from fixed deposits with banks qualifies for exemption under sections 80P(2)(a)(i) and 80P(2)(d) of the Income Tax Act, 1961. The Tribunal directed the AO to grant the exemption, aligning with certain High Courts' views that such income is business income and eligible for deduction. en-us Mon, 06 May 2024 00:00:00 +0530 Wed, 08 May 2024 08:39:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752340 The ITAT allowed the appeal of a Credit Cooperative Society, ruling that interest income from fixed deposits with banks qualifies for exemption under sections 80P(2)(a)(i) and 80P(2)(d) of the Income Tax Act, 1961. The Tribunal directed the AO to grant the exemption, aligning with certain High Courts' views that such income is business income and eligible for deduction. Case-Laws Income Tax Mon, 06 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752340