https://www.taxtmi.com/caselaws?id=188529 The Tribunal upheld the CIT(A)'s decision, allowing a cooperative society to claim a deduction under section 80P(2)(a)(i) for providing jewel loans to its members and associate members. The Tribunal emphasized that the society's activities were in line with its byelaws and approved by the Deputy Registrar of Co-operative Societies, affirming the eligibility for the deduction. This case clarifies the criteria for claiming deductions under section 80P and underscores the significance of complying with regulatory requirements and organizational byelaws in determining eligibility for such tax benefits. en-us Fri, 05 Dec 2014 00:00:00 +0530 Mon, 05 Dec 2016 09:47:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188529 The Tribunal upheld the CIT(A)'s decision, allowing a cooperative society to claim a deduction under section 80P(2)(a)(i) for providing jewel loans to its members and associate members. The Tribunal emphasized that the society's activities were in line with its byelaws and approved by the Deputy Registrar of Co-operative Societies, affirming the eligibility for the deduction. This case clarifies the criteria for claiming deductions under section 80P and underscores the significance of complying with regulatory requirements and organizational byelaws in determining eligibility for such tax benefits. Case-Laws Income Tax Fri, 05 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188529