https://www.taxtmi.com/caselaws?id=361036 A co-operative bank carrying on banking operations beyond members alone was held excluded from deduction under section 80P(2)(a)(i) by section 80P(4), and the Principal Commissioner's revisional jurisdiction was validly invoked because the assessment order had allowed the deduction without examining that statutory bar. The revisional direction disallowing professional fees for want of tax deduction at source and requiring verification of employees' provident fund contribution was also sustained, as those matters were left for factual verification and caused no present prejudice. The assessee's challenge therefore failed and the revisional order was upheld in full. en-us Thu, 24 May 2018 00:00:00 +0530 Mon, 28 May 2018 10:41:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361036 A co-operative bank carrying on banking operations beyond members alone was held excluded from deduction under section 80P(2)(a)(i) by section 80P(4), and the Principal Commissioner's revisional jurisdiction was validly invoked because the assessment order had allowed the deduction without examining that statutory bar. The revisional direction disallowing professional fees for want of tax deduction at source and requiring verification of employees' provident fund contribution was also sustained, as those matters were left for factual verification and caused no present prejudice. The assessee's challenge therefore failed and the revisional order was upheld in full. Case-Laws Income Tax Thu, 24 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361036