https://www.taxtmi.com/caselaws?id=278915 The Tribunal allowed the appeal, directing the Assessing Officer to grant the deduction under section 80P(2)(a)(i) of the Income Tax Act for interest income from bank deposits received by the cooperative credit society. The decision aligned with previous rulings in favor of cooperative societies, emphasizing the eligibility of the assessee for the deduction based on its activities of providing credit facilities to members. The Tribunal distinguished the case from a Supreme Court decision and ensured consistency in applying tax laws to cooperative credit societies, ultimately upholding the claim for deduction on the specified interest income. en-us Fri, 31 Oct 2014 00:00:00 +0530 Mon, 25 Feb 2019 23:53:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278915 The Tribunal allowed the appeal, directing the Assessing Officer to grant the deduction under section 80P(2)(a)(i) of the Income Tax Act for interest income from bank deposits received by the cooperative credit society. The decision aligned with previous rulings in favor of cooperative societies, emphasizing the eligibility of the assessee for the deduction based on its activities of providing credit facilities to members. The Tribunal distinguished the case from a Supreme Court decision and ensured consistency in applying tax laws to cooperative credit societies, ultimately upholding the claim for deduction on the specified interest income. Case-Laws Income Tax Fri, 31 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278915