No Section 80P(2)(a)(i) deduction on Interest from nationalized/private Bank Deposits

Surendranagar District Co-op. Milk Producers Union Ltd. Vs DCIT (ITAT Rajkot) Income Tax Appellate Tribunal (ITAT), Rajkot Bench, has issued a ruling in the case of Surendranagar District Co-operative Milk Producers Union Ltd. against the Deputy Commissioner of Income Tax (DCIT), addressing several key disputes concerning tax deductions and disallowances for various assessment years. The Tribunal’s decision touched upon the eligibility for deduction under Section 80P(2)(b) and 80P(2)(d) of the Income Tax Act, 1961, as well as issues related to delayed provident fund/ESI deposits, cash pa...