https://www.taxtmi.com/caselaws?id=265666 The Tribunal upheld the eligibility of the Credit Cooperative Society for claiming a deduction under Section 80P(2)(a)(i) of the Income-tax Act, 1961. It concluded that the interest income from bank deposits was directly linked to providing credit facilities, making it eligible for the deduction. The Tribunal emphasized the distinction between cooperative societies and cooperative banks under Section 80P, aligning its decision with relevant legal precedents and provisions. The Revenue's appeal was dismissed, affirming the CIT (A)'s decision in favor of the assessee. en-us Thu, 01 Oct 2015 00:00:00 +0530 Wed, 14 Oct 2015 07:45:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265666 The Tribunal upheld the eligibility of the Credit Cooperative Society for claiming a deduction under Section 80P(2)(a)(i) of the Income-tax Act, 1961. It concluded that the interest income from bank deposits was directly linked to providing credit facilities, making it eligible for the deduction. The Tribunal emphasized the distinction between cooperative societies and cooperative banks under Section 80P, aligning its decision with relevant legal precedents and provisions. The Revenue's appeal was dismissed, affirming the CIT (A)'s decision in favor of the assessee. Case-Laws Income Tax Thu, 01 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265666