https://www.taxtmi.com/caselaws?id=326981 The ITAT Jaipur allowed the appeals for A.Y. 2008-09 and 2009-10, confirming the assessee's entitlement to deduction under section 80P(2)(a)(i) of the Income Tax Act. The ITAT considered the significant percentage of loans disbursed towards agricultural and allied activities, aligning with a Coordinate Bench decision that loans for agricultural purposes, including livestock, qualify for section 80P benefits. The judgment emphasizes the importance of the nature of loans disbursed for agricultural activities in determining eligibility for deductions under section 80P, based on consistent legal principles and precedents. en-us Fri, 12 Feb 2016 00:00:00 +0530 Fri, 29 Apr 2016 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326981 The ITAT Jaipur allowed the appeals for A.Y. 2008-09 and 2009-10, confirming the assessee's entitlement to deduction under section 80P(2)(a)(i) of the Income Tax Act. The ITAT considered the significant percentage of loans disbursed towards agricultural and allied activities, aligning with a Coordinate Bench decision that loans for agricultural purposes, including livestock, qualify for section 80P benefits. The judgment emphasizes the importance of the nature of loans disbursed for agricultural activities in determining eligibility for deductions under section 80P, based on consistent legal principles and precedents. Case-Laws Income Tax Fri, 12 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326981