https://www.taxtmi.com/caselaws?id=383750 The court addressed issues regarding the eligibility of Cooperative Societies for deductions under Section 80P of the Income Tax Act, distinguishing between Cooperative Banks and Primary Agricultural Credit Societies for deductions. It also clarified the classification of interest income from surplus funds and emphasized the applicability of the alternative remedy rule in tax-related writ petitions. The court disposed of the writ petitions, directing the petitioners to pursue statutory appeals, allowing for the exclusion of time spent in the writ petitions from the limitation period for filing appeals and condonation of any delay under Section 249(3) of the Income Tax Act. en-us Thu, 18 Jul 2019 00:00:00 +0530 Tue, 30 Jul 2019 07:56:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383750 The court addressed issues regarding the eligibility of Cooperative Societies for deductions under Section 80P of the Income Tax Act, distinguishing between Cooperative Banks and Primary Agricultural Credit Societies for deductions. It also clarified the classification of interest income from surplus funds and emphasized the applicability of the alternative remedy rule in tax-related writ petitions. The court disposed of the writ petitions, directing the petitioners to pursue statutory appeals, allowing for the exclusion of time spent in the writ petitions from the limitation period for filing appeals and condonation of any delay under Section 249(3) of the Income Tax Act. Case-Laws Income Tax Thu, 18 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383750