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Informative

Eligibility of interest income for deduction u/s 80P(2)(a)(i): ITAT remits matter to AO

Update / Judgement Date

19 Feb 2025

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Appeal Against OrderIncome Tax

The ITAT remitted the matter concerning the eligibility of interest income for deduction under Section 80P(i) to the AO (Assessing Officer). This decision indicates that the ITAT found the initial assessment of the interest income to be incomplete or flawed. The remission to the AO allows for a fresh review and a more detailed examination of the issue. This case highlights the appellate process in tax matters.