https://www.taxtmi.com/caselaws?id=757838 ITAT allowed the appeal of the assessee-society, holding that interest from bank fixed deposits and rental receipts were applied to maintenance of the society's residential property and therefore properly set off against maintenance expenses; the additions made by the AO were deleted. The Tribunal also held that, after netting maintenance expenses, the society showed a net surplus and is eligible for deduction under s. 80P(2)(c)(ii); the AO was directed to allow this deduction. Ground in favour of the assessee was allowed. en-us Wed, 07 Aug 2024 00:00:00 +0530 Mon, 22 Sep 2025 17:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757838 ITAT allowed the appeal of the assessee-society, holding that interest from bank fixed deposits and rental receipts were applied to maintenance of the society's residential property and therefore properly set off against maintenance expenses; the additions made by the AO were deleted. The Tribunal also held that, after netting maintenance expenses, the society showed a net surplus and is eligible for deduction under s. 80P(2)(c)(ii); the AO was directed to allow this deduction. Ground in favour of the assessee was allowed. Case-Laws Income Tax Wed, 07 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757838