https://www.taxtmi.com/caselaws?id=357103 A Regional Rural Bank deemed to be a cooperative society under the Regional Rural Banks Act, 1976 remained eligible for deduction under section 80P(2)(a)(i) because the deeming fiction and overriding effect of that special statute prevailed, and the section 80P(4) exclusion for cooperative banks did not apply where the bank was not shown to be a cooperative bank. The withdrawal of an earlier CBDT circular did not alter that statutory position. The Tribunal also held that an appellate authority could entertain a legal claim not raised in the original return or revised belatedly, particularly where the issue had already been examined, and the matter was remanded for fresh assessment. en-us Mon, 08 Jan 2018 00:00:00 +0530 Fri, 16 Mar 2018 18:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357103 A Regional Rural Bank deemed to be a cooperative society under the Regional Rural Banks Act, 1976 remained eligible for deduction under section 80P(2)(a)(i) because the deeming fiction and overriding effect of that special statute prevailed, and the section 80P(4) exclusion for cooperative banks did not apply where the bank was not shown to be a cooperative bank. The withdrawal of an earlier CBDT circular did not alter that statutory position. The Tribunal also held that an appellate authority could entertain a legal claim not raised in the original return or revised belatedly, particularly where the issue had already been examined, and the matter was remanded for fresh assessment. Case-Laws Income Tax Mon, 08 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357103