https://www.taxtmi.com/caselaws?id=339757 The ITAT Bangalore Bench dismissed the Revenue's appeals, affirming the eligibility of the cooperative society for deduction under section 80P(2)(a)(i) of the Income Tax Act for income earned from providing credit facilities to its members. The CIT(Appeals) decision was upheld, emphasizing the distinction between cooperative societies and cooperative banks, supported by relevant case law and tribunal orders. The ITAT clarified that the High Court's order was binding, and the Revenue's appeals were dismissed accordingly. en-us Fri, 03 Mar 2017 00:00:00 +0530 Sat, 04 Mar 2017 14:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339757 The ITAT Bangalore Bench dismissed the Revenue's appeals, affirming the eligibility of the cooperative society for deduction under section 80P(2)(a)(i) of the Income Tax Act for income earned from providing credit facilities to its members. The CIT(Appeals) decision was upheld, emphasizing the distinction between cooperative societies and cooperative banks, supported by relevant case law and tribunal orders. The ITAT clarified that the High Court's order was binding, and the Revenue's appeals were dismissed accordingly. Case-Laws Income Tax Fri, 03 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339757