https://www.taxtmi.com/caselaws?id=278913 The Tribunal allowed the assessee's appeal for the assessment year 2008-09, granting exemption under Section 80P(2)(a)(i) of the Income Tax Act, 1961. The Tribunal distinguished the case from Totgar's Co-operative Sale Society Ltd. vs. ITO, emphasizing the operational nature of funds used for business purposes. Additionally, the assessee was found eligible for exemption under Section 80P(2)(d) for interest income earned from investments in other co-operative banks, with the Tribunal affirming the CIT(A)'s decision and dismissing the Revenue's cross-appeal for subsequent assessment years. en-us Thu, 24 Apr 2014 00:00:00 +0530 Mon, 25 Feb 2019 23:53:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278913 The Tribunal allowed the assessee's appeal for the assessment year 2008-09, granting exemption under Section 80P(2)(a)(i) of the Income Tax Act, 1961. The Tribunal distinguished the case from Totgar's Co-operative Sale Society Ltd. vs. ITO, emphasizing the operational nature of funds used for business purposes. Additionally, the assessee was found eligible for exemption under Section 80P(2)(d) for interest income earned from investments in other co-operative banks, with the Tribunal affirming the CIT(A)'s decision and dismissing the Revenue's cross-appeal for subsequent assessment years. Case-Laws Income Tax Thu, 24 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278913