https://www.taxtmi.com/caselaws?id=763123 ITAT Mumbai allowed the assessee's appeal regarding deduction under section 80P(2)(d) for interest earned from cooperative bank investments. Despite contrary views from Karnataka HC in one case, the tribunal noted that the same HC in an earlier decision and Gujarat HC had allowed similar deductions. Following the principle that favorable views should be taken when High Courts have conflicting decisions, the tribunal granted the deduction claim for interest income from cooperative bank investments. en-us Tue, 10 Dec 2024 00:00:00 +0530 Thu, 12 Dec 2024 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763123 ITAT Mumbai allowed the assessee's appeal regarding deduction under section 80P(2)(d) for interest earned from cooperative bank investments. Despite contrary views from Karnataka HC in one case, the tribunal noted that the same HC in an earlier decision and Gujarat HC had allowed similar deductions. Following the principle that favorable views should be taken when High Courts have conflicting decisions, the tribunal granted the deduction claim for interest income from cooperative bank investments. Case-Laws Income Tax Tue, 10 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763123