https://www.taxtmi.com/caselaws?id=240106 The Tribunal upheld the CIT(A)'s decision, allowing the assessee's claim for deduction under Section 80P(2)(a)(i) of the Income Tax Act, 1961. The Tribunal determined that the primary cooperative agricultural and rural development bank qualified for the deduction as it provided credit facilities to its members for agricultural purposes. Despite discrepancies highlighted in a Special Audit, the Tribunal found the assessee eligible for the exemption, citing supportive interpretations of Section 80P from previous court decisions. The Revenue's appeal was dismissed, affirming the assessee's entitlement to the deduction. en-us Wed, 13 Feb 2013 00:00:00 +0530 Sat, 09 Nov 2013 11:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240106 The Tribunal upheld the CIT(A)'s decision, allowing the assessee's claim for deduction under Section 80P(2)(a)(i) of the Income Tax Act, 1961. The Tribunal determined that the primary cooperative agricultural and rural development bank qualified for the deduction as it provided credit facilities to its members for agricultural purposes. Despite discrepancies highlighted in a Special Audit, the Tribunal found the assessee eligible for the exemption, citing supportive interpretations of Section 80P from previous court decisions. The Revenue's appeal was dismissed, affirming the assessee's entitlement to the deduction. Case-Laws Income Tax Wed, 13 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240106