https://www.taxtmi.com/caselaws?id=273940 The Appellate Tribunal ITAT PANAJI ruled in favor of the assessee, allowing the deduction under sec. 80P(2)(a)(i) of the Income Tax Act. The Tribunal held that the appellant, not meeting the criteria of a Primary Cooperative Bank, was entitled to the deduction. Additionally, the deletion of the addition made under sec. 40(a)(ia) read with sec. 194A was upheld, as the assessee was not classified as a bank. The Tribunal's decision was based on a thorough analysis of the relevant legal provisions and definitions under the Banking Regulation Act, 1949. en-us Thu, 21 Jul 2016 00:00:00 +0530 Sat, 21 Jul 2018 09:34:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273940 The Appellate Tribunal ITAT PANAJI ruled in favor of the assessee, allowing the deduction under sec. 80P(2)(a)(i) of the Income Tax Act. The Tribunal held that the appellant, not meeting the criteria of a Primary Cooperative Bank, was entitled to the deduction. Additionally, the deletion of the addition made under sec. 40(a)(ia) read with sec. 194A was upheld, as the assessee was not classified as a bank. The Tribunal's decision was based on a thorough analysis of the relevant legal provisions and definitions under the Banking Regulation Act, 1949. Case-Laws Income Tax Thu, 21 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273940