https://www.taxtmi.com/caselaws?id=280795 The Tribunal allowed the deduction under section 80P for the unexplained cash credit assessed under section 68 of the Income Tax Act, treating the income as 'income from business.' The High Court confirmed that a primary agricultural credit society is entitled to exemption under section 80P. Additionally, the Tribunal upheld the deduction under section 80P for the addition made under section 68 of the Act. The appeal by the revenue and the cross objection by the assessee were both dismissed. en-us Fri, 18 Nov 2016 00:00:00 +0530 Wed, 22 May 2019 06:17:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280795 The Tribunal allowed the deduction under section 80P for the unexplained cash credit assessed under section 68 of the Income Tax Act, treating the income as 'income from business.' The High Court confirmed that a primary agricultural credit society is entitled to exemption under section 80P. Additionally, the Tribunal upheld the deduction under section 80P for the addition made under section 68 of the Act. The appeal by the revenue and the cross objection by the assessee were both dismissed. Case-Laws Income Tax Fri, 18 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280795