https://www.taxtmi.com/caselaws?id=463511 ITAT (Ahmedabad) held that interest income from deposits with nationalized banks is not allowable u/s. 80P(2)(a)(i), dismissing the assessee's ground on that claim. The issue of proportionate interest expenditure allowable u/s. 57 was remitted to the AO for verification of the revised working, with directions to afford the assessee an opportunity of hearing in accordance with natural justice. That ground was partly allowed for statistical purposes. en-us Wed, 01 Jan 2025 00:00:00 +0530 Wed, 03 Sep 2025 17:38:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463511 ITAT (Ahmedabad) held that interest income from deposits with nationalized banks is not allowable u/s. 80P(2)(a)(i), dismissing the assessee's ground on that claim. The issue of proportionate interest expenditure allowable u/s. 57 was remitted to the AO for verification of the revised working, with directions to afford the assessee an opportunity of hearing in accordance with natural justice. That ground was partly allowed for statistical purposes. Case-Laws Income Tax Wed, 01 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463511