Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Informative
Denial of S.80P(2)(d) Deduction on Interest Income: ITAT Grants Deduction for Cooperative Banks and Savings Accounts
Income TaxOther Legal Matters
The ITAT has granted a deduction on interest income for cooperative banks and savings accounts, reversing a denial. The tribunal emphasized the need for considering the nature of income. This decision ensures fairness and protects the rights of assessees. The ruling clarifies the treatment of interest income.
