https://www.taxtmi.com/caselaws?id=181332 The Tribunal upheld the eligibility of a co-operative credit society for deduction u/s 80P(2)(a)(i) of the Income Tax Act, allowing the deduction claimed for income from credit facilities provided to members, even partially secured through borrowing from a bank. Additionally, the Tribunal affirmed the treatment of income from a cash collection counter under section 80P(2)(a)(i), ruling that such activities are akin to banking operations and qualify for the deduction. The appeal filed by the revenue was dismissed, affirming the decisions of the CIT(A) in both instances. en-us Thu, 29 May 2014 00:00:00 +0530 Wed, 13 Apr 2016 18:22:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181332 The Tribunal upheld the eligibility of a co-operative credit society for deduction u/s 80P(2)(a)(i) of the Income Tax Act, allowing the deduction claimed for income from credit facilities provided to members, even partially secured through borrowing from a bank. Additionally, the Tribunal affirmed the treatment of income from a cash collection counter under section 80P(2)(a)(i), ruling that such activities are akin to banking operations and qualify for the deduction. The appeal filed by the revenue was dismissed, affirming the decisions of the CIT(A) in both instances. Case-Laws Income Tax Thu, 29 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181332