https://www.taxtmi.com/caselaws?id=270107 The Tribunal affirmed the CIT(A)'s decision, allowing the Cooperative Society's claim for exemption under section 80P of the Income Tax Act, 1961. The Tribunal determined that the Cooperative Society did not qualify as a Cooperative Bank under section 80P(4) due to lacking a banking license and meeting specific criteria. Additionally, the Tribunal upheld the authority of appellate bodies to consider deduction claims not initially raised in the income tax return, dismissing the Revenue's appeal and deeming the Cross Objection by the assessee as infructuous. en-us Fri, 21 Aug 2015 00:00:00 +0530 Tue, 29 Dec 2015 01:48:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270107 The Tribunal affirmed the CIT(A)'s decision, allowing the Cooperative Society's claim for exemption under section 80P of the Income Tax Act, 1961. The Tribunal determined that the Cooperative Society did not qualify as a Cooperative Bank under section 80P(4) due to lacking a banking license and meeting specific criteria. Additionally, the Tribunal upheld the authority of appellate bodies to consider deduction claims not initially raised in the income tax return, dismissing the Revenue's appeal and deeming the Cross Objection by the assessee as infructuous. Case-Laws Income Tax Fri, 21 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270107