![Eligibility of interest income for deduction u/s 80P(2)(a)(i): ITAT remits matter to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Eligibility-of-interest-income-interest-income-deduction-interest-income-for-deduction-deduction-Section-80P2ai-ITAT-ITAT-remits-matter-taxscan.jpg "Eligibility of interest income for deduction u/s 80P(2)(a)(i): ITAT remits matter to AO [Read Order]")
Eligibility of interest income for deduction u/s 80P(2)(a)(i): ITAT remits matter to AO [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) remitted the matter back to the Assessing Officer (AO) to verify the eligibility of...
![Interest Income classified as Business Income: ITAT grants allowance of Related Expenses [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Interest-Income-Grants-Allowance-ITAT-Grants-Allowance-taxscan.jpg "Interest Income classified as Business Income: ITAT grants allowance of Related Expenses [Read Order]")
![Interest Income from Deposits with Co-operative Banks qualifies for Deduction u/s 80P(2)(d) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-Interest-Income-Interest-Income-from-Deposits-Co-operative-Banks-Income-Tax-Act-under-Section-80P2d-of-the-Income-Tax-Act-ITAT-news-taxscan.jpg "Interest Income from Deposits with Co-operative Banks qualifies for Deduction u/s 80P(2)(d) of Income Tax Act: ITAT [Read Order]")
![Incomplete Interest Income Verification: ITAT Orders Revaluation of Co-op Societys 80P Deduction Eligibility [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Interest-Income-Interest-Income-Verification-ITAT-Co-op-Society-Co-op-Societys-80P-Deduction-Eligibility-Incomplete-Interest-Income-Verification-ITAT-Orders-Revaluation-income-tax-tax-news-taxscan.jpg "Incomplete Interest Income Verification: ITAT Orders Revaluation of Co-op Societys 80P Deduction Eligibility [Read Order]")
![Income from Staff Loans and Misc. Income directly related to Business is Deemed Business Income, not Income from other Sources: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Ahmedabad-Income-Tax-business-income-business-income-classification-Income-from-staff-loans-TAXSCAN.jpg "Income from Staff Loans and Misc. Income directly related to Business is Deemed Business Income, not Income from other Sources: ITAT [Read Order]")
Interest Income from Fixed Deposits Can be Set Off against Property Maintenance Expenses: ITAT [Read Order]
The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) recently held in a case that interest income from fixed deposits can be set off against property maintenance expenses. The assessee/...
![Interest Income from Fixed Deposits Can be Set Off against Property Maintenance Expenses: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Tax-Saver-Fixed-Deposit-Tax-Saver-Fixed-Deposit-Tax-Tax-Saving-Saving-Top-10-Tax-Saving-FDs-in-India-Taxscan.jpg "Interest Income from Fixed Deposits Can be Set Off against Property Maintenance Expenses: ITAT [Read Order]")
Interest Income from SBI Investments not attributable to Business of Taxpayer, Not Eligible for Deduction u/s 80P (2)(a)(i) of Income Tax Act: ITAT [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that interest income received on investments from State Bank of India ( SBI ) was not attributable to the business of the...
![Interest Income from SBI Investments not attributable to Business of Taxpayer, Not Eligible for Deduction u/s 80P (2)(a)(i) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Bangalore-Income-tax-Income-Tax-Act-State-Bank-of-India-SBI-taxscan.jpg "Interest Income from SBI Investments not attributable to Business of Taxpayer, Not Eligible for Deduction u/s 80P (2)(a)(i) of Income Tax Act: ITAT [Read Order]")
Interest Income from Investment in KDCC Bank is not Eligible for Deduction u/s 80 P(2)(a)(i) of Income Tax Act: ITAT remits to AO for Fresh Consideration [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that interest income from investment in Karnataka District Central Co-operative Bank ( KDCC Bank ) was not eligible for...
![Interest Income from Investment in KDCC Bank is not Eligible for Deduction u/s 80 P(2)(a)(i) of Income Tax Act: ITAT remits to AO for Fresh Consideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-bangalore-investment-in-kdcc-bank-interest-income-from-kdcc-bank-remand-to-assessing-officer-taxscan.jpg "Interest Income from Investment in KDCC Bank is not Eligible for Deduction u/s 80 P(2)(a)(i) of Income Tax Act: ITAT remits to AO for Fresh Consideration [Read Order]")
Amount transferred from Current Account to Deposit Account to maintaining shortfall of Accounts cannot be consider Income of Assessee: ITAT deletes Addition [Read Order]
The Chennai bench of Income Tax Appellate Tribunal ( ITAT ) after deleting the addition made by the assessing officer held that the amount transferred from the current account to maintain the...
![Amount transferred from Current Account to Deposit Account to maintaining shortfall of Accounts cannot be consider Income of Assessee: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Chennai-Income-tax-Tax-news-Current-account-transfer-Income-tax-assessment-taxscan.jpg "Amount transferred from Current Account to Deposit Account to maintaining shortfall of Accounts cannot be consider Income of Assessee: ITAT deletes Addition [Read Order]")
ITAT upholds disallowance of Expenditure incurred out of Interest Income pertaining to various funds held by NABARD on behalf of GOI [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal ( ITAT ) upheld the disallowance of expenditure incurred out of interest income pertaining to various funds held by the National Bank for Agriculture...
![ITAT upholds disallowance of Expenditure incurred out of Interest Income pertaining to various funds held by NABARD on behalf of GOI [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Income-tax-news-NABARD-Indian-government-Disallowance-of-expenditure-TAXSCAN.jpg "ITAT upholds disallowance of Expenditure incurred out of Interest Income pertaining to various funds held by NABARD on behalf of GOI [Read Order]")
Relief to Sahara India: ITAT deletes Addition of Interest Income for AO’s Failure to Appreciate Facts Properly [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) granted relief to Sahara India Financial Corporation Limited by deleting the addition of interest income. This action was taken due to...
![Relief to Sahara India: ITAT deletes Addition of Interest Income for AO’s Failure to Appreciate Facts Properly [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Sahara-India-Relief-to-Sahara-India-ITAT-Addition-Interest-Income-AO-taxscan.jpg "Relief to Sahara India: ITAT deletes Addition of Interest Income for AO’s Failure to Appreciate Facts Properly [Read Order]")
Interest Income received from Co-operative Banks cannot be equated with interest received from Co-operative Society: ITAT not allowed deduction u/s 80P (2) (d) of Income Tax Act [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) disallowed deduction under Section 80P (2)(d) of the Income Tax Act, 1961, stating that interest income received from cooperative...
![Interest Income received from Co-operative Banks cannot be equated with interest received from Co-operative Society: ITAT not allowed deduction u/s 80P (2) (d) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/Income-Tax-ITAT-ITAT-Bangalore-Cooperative-Bank-Cooperative-Society-Interest-Income-Tax-deduction-TAXSCAN.jpg "Interest Income received from Co-operative Banks cannot be equated with interest received from Co-operative Society: ITAT not allowed deduction u/s 80P (2) (d) of Income Tax Act [Read Order]")