https://www.taxtmi.com/caselaws?id=755118 Deduction claims linked to interest income required fresh factual examination because the Tribunal found the record incomplete on both proportionate deduction of management expenses and interest paid against gross interest, and eligibility of deduction under section 80P(2)(d) for bank deposits. The Tribunal noted the need to consider the assessee's records, bye-laws, additional material, and applicable precedents, including the treatment of interest on statutory reserve deposits, before any final view could be taken. Both issues were remanded to the Assessing Officer for de novo adjudication in accordance with law, and no final allowance or disallowance was recorded. en-us Mon, 01 Jul 2024 00:00:00 +0530 Fri, 05 Jul 2024 08:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755118 Deduction claims linked to interest income required fresh factual examination because the Tribunal found the record incomplete on both proportionate deduction of management expenses and interest paid against gross interest, and eligibility of deduction under section 80P(2)(d) for bank deposits. The Tribunal noted the need to consider the assessee's records, bye-laws, additional material, and applicable precedents, including the treatment of interest on statutory reserve deposits, before any final view could be taken. Both issues were remanded to the Assessing Officer for de novo adjudication in accordance with law, and no final allowance or disallowance was recorded. Case-Laws Income Tax Mon, 01 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755118