https://www.taxtmi.com/caselaws?id=469296 Interest from fixed deposits in nationalised banks may qualify for deduction under section 80P(2)(d) where the deposits are made out of the assessee's own funds, in line with jurisdictional precedent. The earlier technical objection based on the route of challenge under section 154 was not treated as decisive of substantive entitlement. Because the factual question of source of funds required verification, the matter was remanded to the Assessing Officer for examination on merits, with direction to allow the deduction if the deposits were found to have been made from the assessee's own funds. en-us Mon, 25 Mar 2024 00:00:00 +0530 Sat, 13 Jun 2026 10:24:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469296 Interest from fixed deposits in nationalised banks may qualify for deduction under section 80P(2)(d) where the deposits are made out of the assessee's own funds, in line with jurisdictional precedent. The earlier technical objection based on the route of challenge under section 154 was not treated as decisive of substantive entitlement. Because the factual question of source of funds required verification, the matter was remanded to the Assessing Officer for examination on merits, with direction to allow the deduction if the deposits were found to have been made from the assessee's own funds. Case-Laws Income Tax Mon, 25 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469296