https://www.taxtmi.com/caselaws?id=761582 The ITAT Visakhapatnam allowed the assessee's appeal regarding deduction under section 80P(2)(d) for interest income from investment with KDCC Bank. The tribunal held that since the assessee invested surplus funds generated from activities covered under section 80P(2)(a), the interest income qualified for deduction under section 80P(2)(a)(i). The decision followed precedents from Andhra Pradesh HC and ITAT Visakhapatnam, allowing the deduction for the cooperative society's investment income. en-us Thu, 24 Oct 2024 00:00:00 +0530 Tue, 12 Nov 2024 17:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761582 The ITAT Visakhapatnam allowed the assessee's appeal regarding deduction under section 80P(2)(d) for interest income from investment with KDCC Bank. The tribunal held that since the assessee invested surplus funds generated from activities covered under section 80P(2)(a), the interest income qualified for deduction under section 80P(2)(a)(i). The decision followed precedents from Andhra Pradesh HC and ITAT Visakhapatnam, allowing the deduction for the cooperative society's investment income. Case-Laws Income Tax Thu, 24 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761582