https://www.taxtmi.com/caselaws?id=389806 The Tribunal ordered the issue of deduction u/s 80P(2) to be reexamined by the Assessing Officer for each assessment year to verify the society's compliance with co-operative norms. The treatment of interest income was also subjected to scrutiny for deduction u/s 80P. Stay applications for tax arrears recovery were dismissed, emphasizing the necessity of a thorough inquiry by the Assessing Officer into the society's activities to determine eligibility for deductions under section 80P of the I.T. Act. The judgment underscored the importance of factual inquiries in assessing eligibility for tax deductions. en-us Wed, 11 Dec 2019 00:00:00 +0530 Tue, 17 Dec 2019 15:58:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389806 The Tribunal ordered the issue of deduction u/s 80P(2) to be reexamined by the Assessing Officer for each assessment year to verify the society's compliance with co-operative norms. The treatment of interest income was also subjected to scrutiny for deduction u/s 80P. Stay applications for tax arrears recovery were dismissed, emphasizing the necessity of a thorough inquiry by the Assessing Officer into the society's activities to determine eligibility for deductions under section 80P of the I.T. Act. The judgment underscored the importance of factual inquiries in assessing eligibility for tax deductions. Case-Laws Income Tax Wed, 11 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389806