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2017 (11) TMI 1821 - TELANGANA AND ANDHRA PRADESH HIGH COURTDeduction u/s 80P - disallowance of overdue interest - HELD THAT:- By Common Order [2017 (9) TMI 1815 - TELANGANA AND ANDHRA PRADESH HIGH COURT] this Court has allowed appeal filed by the respondent-assessee and held that the hierarchical orders including that of the Tribunal were erroneous and that the respondent is entitled to exemption under Section 80P(2) of the Income Tax Act, 1961. Also as the respondent is held entitled to exemption from payment of tax, a further question as to whether the overdue interest is allowable for deduction or not would not arise.
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