https://www.taxtmi.com/caselaws?id=456648 The Tribunal allowed the assessee's appeal, determining that the housing co-operative society is eligible for a deduction under Section 80P(2)(d) of the Income Tax Act for interest income from deposits with co-operative banks. The Tribunal set aside the Ld CIT(A)'s order, directing the AO to grant the deduction. This decision aligns with a co-ordinate bench's interpretation and the Hon'ble Supreme Court's precedent, emphasizing that deductions under Section 80P(2)(d) are applicable irrespective of the income source, unlike Section 80P(2)(a)(i), which is limited to business income. en-us Fri, 20 Apr 2018 00:00:00 +0530 Wed, 07 Aug 2024 20:37:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456648 The Tribunal allowed the assessee's appeal, determining that the housing co-operative society is eligible for a deduction under Section 80P(2)(d) of the Income Tax Act for interest income from deposits with co-operative banks. The Tribunal set aside the Ld CIT(A)'s order, directing the AO to grant the deduction. This decision aligns with a co-ordinate bench's interpretation and the Hon'ble Supreme Court's precedent, emphasizing that deductions under Section 80P(2)(d) are applicable irrespective of the income source, unlike Section 80P(2)(a)(i), which is limited to business income. Case-Laws Income Tax Fri, 20 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456648