https://www.taxtmi.com/caselaws?id=756549 The ITAT Ahmedabad ruled in favor of the assessee regarding deduction u/s 80P(2)(d) for interest income from fixed deposits with co-operative banks. The tribunal directed the AO to verify that the four banks (Kadi Nagarik, Mehsana Urban, Rajkot Nagarik, and Kalol Nagarik Co-operative Banks) are properly registered co-operative societies under relevant Acts before granting relief. The court addressed discrepancies in expense disallowance and rejected Revenue's argument that revised return filing was required for the deduction claim. The assessee's appeal was allowed with verification conditions. en-us Thu, 18 Jul 2024 00:00:00 +0530 Mon, 05 Aug 2024 18:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756549 The ITAT Ahmedabad ruled in favor of the assessee regarding deduction u/s 80P(2)(d) for interest income from fixed deposits with co-operative banks. The tribunal directed the AO to verify that the four banks (Kadi Nagarik, Mehsana Urban, Rajkot Nagarik, and Kalol Nagarik Co-operative Banks) are properly registered co-operative societies under relevant Acts before granting relief. The court addressed discrepancies in expense disallowance and rejected Revenue's argument that revised return filing was required for the deduction claim. The assessee's appeal was allowed with verification conditions. Case-Laws Income Tax Thu, 18 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756549