https://www.taxtmi.com/caselaws?id=67552 The Tribunal upheld the decision of the CIT(A) and dismissed the appeal, ruling that the dividend income received by the cooperative society on shares of Jaipur Metals & Electricals Ltd. did not qualify for deduction under section 80P(2)(a)(i) of the Income Tax Act. The Tribunal found that the dividend income from shares was not attributable to banking activities and noted the potential for losses due to market fluctuations, unlike more stable Government securities. The assessee's appeal was therefore denied. en-us Wed, 28 Apr 1999 00:00:00 +0530 Fri, 11 Mar 2011 12:29:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67552 The Tribunal upheld the decision of the CIT(A) and dismissed the appeal, ruling that the dividend income received by the cooperative society on shares of Jaipur Metals & Electricals Ltd. did not qualify for deduction under section 80P(2)(a)(i) of the Income Tax Act. The Tribunal found that the dividend income from shares was not attributable to banking activities and noted the potential for losses due to market fluctuations, unlike more stable Government securities. The assessee's appeal was therefore denied. Case-Laws Income Tax Wed, 28 Apr 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67552