https://www.taxtmi.com/caselaws?id=774596 ITAT Ahmedabad allowed the assessee's appeal on three key issues. For deduction under section 80P(2)(d), the tribunal held that deduction on dividend and interest from cooperative society investments should be calculated on gross basis, not net basis, distinguishing SC precedent which applied to business profits. For deduction under section 80P(2)(iv) on seed sale profits, ITAT followed its own precedent allowing deduction with 20% indirect expense attribution. Regarding section 14A disallowance, ITAT deleted the entire disallowance, ruling that section 14A applies only to expenses for earning exempt income, not income claimed as deductible under Chapter VIA. en-us Tue, 08 Jul 2025 00:00:00 +0530 Fri, 11 Jul 2025 08:39:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774596 ITAT Ahmedabad allowed the assessee's appeal on three key issues. For deduction under section 80P(2)(d), the tribunal held that deduction on dividend and interest from cooperative society investments should be calculated on gross basis, not net basis, distinguishing SC precedent which applied to business profits. For deduction under section 80P(2)(iv) on seed sale profits, ITAT followed its own precedent allowing deduction with 20% indirect expense attribution. Regarding section 14A disallowance, ITAT deleted the entire disallowance, ruling that section 14A applies only to expenses for earning exempt income, not income claimed as deductible under Chapter VIA. Case-Laws Income Tax Tue, 08 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774596