https://www.taxtmi.com/caselaws?id=777604 ITAT allowed deduction under section 80P(2)(d) for interest income from deposits with co-operative banks but held that interest from a regional Gramin bank is not eligible under section 80P(2)(d). For the latter interest, the AO must allow a proportionate deduction of expenditure under section 57(iii) to the extent it is relatable with earning that income. The AO is directed to recompute total income accordingly; appeal partly allowed. en-us Thu, 28 Aug 2025 00:00:00 +0530 Tue, 02 Sep 2025 08:01:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777604 ITAT allowed deduction under section 80P(2)(d) for interest income from deposits with co-operative banks but held that interest from a regional Gramin bank is not eligible under section 80P(2)(d). For the latter interest, the AO must allow a proportionate deduction of expenditure under section 57(iii) to the extent it is relatable with earning that income. The AO is directed to recompute total income accordingly; appeal partly allowed. Case-Laws Income Tax Thu, 28 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777604