https://www.taxtmi.com/caselaws?id=366253 The Tribunal dismissed the Revenue's appeals, upholding the CIT(A)'s orders that the primary agricultural credit societies were eligible for deductions under Section 80P(2)(a)(i) of the Income Tax Act. The decision relied on the Kerala High Court's precedent, statutory definitions under the Kerala Co-operative Societies Act, and the distinction in facts from the Supreme Court's ruling in The Citizens Co-Operative Society case. The Tribunal emphasized that the Assessing Officer lacked jurisdiction to classify the societies differently from their designation as primary agricultural credit societies by the Reserve Bank of India. en-us Wed, 29 Aug 2018 00:00:00 +0530 Fri, 31 Aug 2018 08:51:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366253 The Tribunal dismissed the Revenue's appeals, upholding the CIT(A)'s orders that the primary agricultural credit societies were eligible for deductions under Section 80P(2)(a)(i) of the Income Tax Act. The decision relied on the Kerala High Court's precedent, statutory definitions under the Kerala Co-operative Societies Act, and the distinction in facts from the Supreme Court's ruling in The Citizens Co-Operative Society case. The Tribunal emphasized that the Assessing Officer lacked jurisdiction to classify the societies differently from their designation as primary agricultural credit societies by the Reserve Bank of India. Case-Laws Income Tax Wed, 29 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366253