https://www.taxtmi.com/caselaws?id=10536 The court ruled in favor of the Revenue, holding that the deduction under section 80P(2)(d) of the Income-tax Act, 1961 for co-operative societies should be allowed on the net amount of income received. The court emphasized the importance of adhering to the plain terms of the statute and clarified the legislative intent behind the deduction, considering the provisions of section 80AB. The judgment provided a detailed analysis of relevant case laws and legal framework to ensure clarity on the interpretation of tax deductions for co-operative societies. en-us Mon, 11 Oct 2004 00:00:00 +0530 Fri, 17 Jul 2009 12:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10536 The court ruled in favor of the Revenue, holding that the deduction under section 80P(2)(d) of the Income-tax Act, 1961 for co-operative societies should be allowed on the net amount of income received. The court emphasized the importance of adhering to the plain terms of the statute and clarified the legislative intent behind the deduction, considering the provisions of section 80AB. The judgment provided a detailed analysis of relevant case laws and legal framework to ensure clarity on the interpretation of tax deductions for co-operative societies. Case-Laws Income Tax Mon, 11 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10536