https://www.taxtmi.com/caselaws?id=768181 ITAT Visakhapatnam allowed the assessee's appeal regarding disallowance of deduction under section 80P for interest income earned on deposits with District Cooperative Central Bank. Following precedents from Andhra Pradesh HC and ITAT Visakhapatnam, the tribunal held that interest income qualifies for deduction under section 80P(2)(a)(i). The order of Principal CIT disallowing the deduction was quashed, and the appeal was allowed in favor of the assessee. en-us Fri, 26 Jul 2024 00:00:00 +0530 Wed, 02 Apr 2025 08:35:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768181 ITAT Visakhapatnam allowed the assessee's appeal regarding disallowance of deduction under section 80P for interest income earned on deposits with District Cooperative Central Bank. Following precedents from Andhra Pradesh HC and ITAT Visakhapatnam, the tribunal held that interest income qualifies for deduction under section 80P(2)(a)(i). The order of Principal CIT disallowing the deduction was quashed, and the appeal was allowed in favor of the assessee. Case-Laws Income Tax Fri, 26 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768181