https://www.taxtmi.com/caselaws?id=282655 The ITAT ruled against the Assessee, a cooperative society, in the appeal against the CIT(A) order for assessment years 2007-08, 2008-09, and 2009-10. The dispute centered on the Assessee's eligibility for deductions under section 80P(2)(a)(i) for interest income, with the ITAT determining that the Assessee, classified as a primary cooperative bank, was not entitled to the deduction under section 80P(4). The tribunal emphasized the legislative intent behind the provisions and dismissed the Assessee's claim, directing the assessing officer not to grant the deductions under section 80P(2)(a)(i). en-us Fri, 11 Apr 2014 00:00:00 +0530 Sun, 18 Aug 2019 08:32:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282655 The ITAT ruled against the Assessee, a cooperative society, in the appeal against the CIT(A) order for assessment years 2007-08, 2008-09, and 2009-10. The dispute centered on the Assessee's eligibility for deductions under section 80P(2)(a)(i) for interest income, with the ITAT determining that the Assessee, classified as a primary cooperative bank, was not entitled to the deduction under section 80P(4). The tribunal emphasized the legislative intent behind the provisions and dismissed the Assessee's claim, directing the assessing officer not to grant the deductions under section 80P(2)(a)(i). Case-Laws Income Tax Fri, 11 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282655