https://www.taxtmi.com/caselaws?id=368398 The case involved the interpretation of Section 80P(4) regarding a Co-operative Agricultural and Rural Development Bank's eligibility for deductions under Section 80P(2)(a)(i) and 80P(2)(c) of the Income Tax Act. The Revenue argued that the bank did not meet the criteria due to its area of operation extending beyond a taluk. The CIT(A) allowed the bank's appeal, but the Tribunal remanded the matter for further consideration on compliance with the taluk restriction. The issue of rental income as profits under Section 80P(2)(c) was raised, with the Revenue disputing its treatment. The CIT(A) directed the benefit of deduction without detailed reasoning. en-us Fri, 05 Oct 2018 00:00:00 +0530 Mon, 08 Oct 2018 07:32:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368398 The case involved the interpretation of Section 80P(4) regarding a Co-operative Agricultural and Rural Development Bank's eligibility for deductions under Section 80P(2)(a)(i) and 80P(2)(c) of the Income Tax Act. The Revenue argued that the bank did not meet the criteria due to its area of operation extending beyond a taluk. The CIT(A) allowed the bank's appeal, but the Tribunal remanded the matter for further consideration on compliance with the taluk restriction. The issue of rental income as profits under Section 80P(2)(c) was raised, with the Revenue disputing its treatment. The CIT(A) directed the benefit of deduction without detailed reasoning. Case-Laws Income Tax Fri, 05 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368398