https://www.taxtmi.com/caselaws?id=188668 The Tribunal upheld the Commissioner's order, allowing the deduction under sec. 80P(2)(a)(i) for the assessee, a primary agricultural credit society engaged in trading activities. It confirmed that the society's activities aligned with the provisions of sec. 80P(2)(a)(i) and that there was no distinction between cooperative societies carrying out banking business and others under the Income Tax Act. Additionally, the Tribunal ruled that the interest and dividend income earned by the assessee from deposits with other cooperative banks was fully deductible under sec. 80P(2)(d), emphasizing a broad interpretation of cooperative society under the Act. en-us Wed, 21 Sep 2016 00:00:00 +0530 Sun, 11 Dec 2016 21:33:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188668 The Tribunal upheld the Commissioner's order, allowing the deduction under sec. 80P(2)(a)(i) for the assessee, a primary agricultural credit society engaged in trading activities. It confirmed that the society's activities aligned with the provisions of sec. 80P(2)(a)(i) and that there was no distinction between cooperative societies carrying out banking business and others under the Income Tax Act. Additionally, the Tribunal ruled that the interest and dividend income earned by the assessee from deposits with other cooperative banks was fully deductible under sec. 80P(2)(d), emphasizing a broad interpretation of cooperative society under the Act. Case-Laws Income Tax Wed, 21 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188668