https://www.taxtmi.com/caselaws?id=758859 Section 143(1) permits only limited summary-processing adjustments, and a deduction under section 80P(2)(d) cannot be disallowed unless the claim is an incorrect claim apparent from the return or otherwise falls within the statutory grounds; a mere characterization of interest under another income head does not justify such adjustment. The document also states that interest earned by a co-operative society from co-operative banks remains eligible for deduction under section 80P(2)(d) because co-operative banks retain the character of co-operative societies for this purpose, and section 80P(4) does not apply where the assessee is not a co-operative bank. en-us Thu, 27 Jun 2024 00:00:00 +0530 Fri, 20 Sep 2024 08:31:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758859 Section 143(1) permits only limited summary-processing adjustments, and a deduction under section 80P(2)(d) cannot be disallowed unless the claim is an incorrect claim apparent from the return or otherwise falls within the statutory grounds; a mere characterization of interest under another income head does not justify such adjustment. The document also states that interest earned by a co-operative society from co-operative banks remains eligible for deduction under section 80P(2)(d) because co-operative banks retain the character of co-operative societies for this purpose, and section 80P(4) does not apply where the assessee is not a co-operative bank. Case-Laws Income Tax Thu, 27 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758859