https://www.taxtmi.com/caselaws?id=778006 ITAT Chennai allowed the taxpayer's appeal, set aside the CIT(A) order, and directed the AO to allow the deduction claimed under section 80P(2)(d). The tribunal held that section 80P is a benevolent provision to be read liberally; absence of interest income from an RBI-licensed co-operative bank does not disqualify the deduction. Ambiguities must be resolved in favor of the assessee, so denial by implication was not permissible. en-us Wed, 15 Jan 2025 00:00:00 +0530 Tue, 09 Sep 2025 08:38:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778006 ITAT Chennai allowed the taxpayer's appeal, set aside the CIT(A) order, and directed the AO to allow the deduction claimed under section 80P(2)(d). The tribunal held that section 80P is a benevolent provision to be read liberally; absence of interest income from an RBI-licensed co-operative bank does not disqualify the deduction. Ambiguities must be resolved in favor of the assessee, so denial by implication was not permissible. Case-Laws Income Tax Wed, 15 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778006