https://www.taxtmi.com/caselaws?id=792057 Interest received from a nationalized bank was held not to qualify for deduction under section 80P(2)(d), following the jurisdictional High Court decision relied on in the order but on the facts presented before the Tribunal. The assessee's deduction claim was therefore denied to that extent. Expenditure having a proximate nexus with earning that interest was, however, held allowable on a proportionate basis. The result was partial relief: the deduction on bank interest was disallowed, while the related expenditure claim was accepted. en-us Thu, 14 May 2026 00:00:00 +0530 Fri, 22 May 2026 07:06:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792057 Interest received from a nationalized bank was held not to qualify for deduction under section 80P(2)(d), following the jurisdictional High Court decision relied on in the order but on the facts presented before the Tribunal. The assessee's deduction claim was therefore denied to that extent. Expenditure having a proximate nexus with earning that interest was, however, held allowable on a proportionate basis. The result was partial relief: the deduction on bank interest was disallowed, while the related expenditure claim was accepted. Case-Laws Income Tax Thu, 14 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792057