https://www.taxtmi.com/caselaws?id=381979 The case involved the eligibility of cooperative societies for deduction under section 80P of the Income Tax Act. The Assessing Officer initially denied the deduction, treating the assessees as cooperative banks. The CIT(A) allowed the deduction based on a favorable High Court judgment. However, the Department challenged this citing conflicting decisions. The Larger Bench emphasized the need for an annual inquiry into the society's activities for deduction eligibility. The case was remanded to the Assessing Officer for examination, and the Revenue's appeals were allowed for statistical purposes. en-us Thu, 20 Jun 2019 00:00:00 +0530 Sat, 22 Jun 2019 09:47:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381979 The case involved the eligibility of cooperative societies for deduction under section 80P of the Income Tax Act. The Assessing Officer initially denied the deduction, treating the assessees as cooperative banks. The CIT(A) allowed the deduction based on a favorable High Court judgment. However, the Department challenged this citing conflicting decisions. The Larger Bench emphasized the need for an annual inquiry into the society's activities for deduction eligibility. The case was remanded to the Assessing Officer for examination, and the Revenue's appeals were allowed for statistical purposes. Case-Laws Income Tax Thu, 20 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381979