https://www.taxtmi.com/caselaws?id=390219 The Tribunal directed the Assessing Officer to examine the activities of the assessee society to determine the eligibility for deduction u/s 80P(2) of the Income Tax Act. The Tribunal emphasized the need for a thorough assessment of the activities to ascertain the grant of deductions on interest income from investments with Cooperative Banks and other Banks, following the law laid down by the Larger Bench of the jurisdictional High Court. The case involved issues of disallowance of deduction, rectification of orders, and treatment of interest income, with a focus on ensuring compliance with the provisions of the Income Tax Act. en-us Tue, 10 Dec 2019 00:00:00 +0530 Thu, 26 Dec 2019 06:57:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390219 The Tribunal directed the Assessing Officer to examine the activities of the assessee society to determine the eligibility for deduction u/s 80P(2) of the Income Tax Act. The Tribunal emphasized the need for a thorough assessment of the activities to ascertain the grant of deductions on interest income from investments with Cooperative Banks and other Banks, following the law laid down by the Larger Bench of the jurisdictional High Court. The case involved issues of disallowance of deduction, rectification of orders, and treatment of interest income, with a focus on ensuring compliance with the provisions of the Income Tax Act. Case-Laws Income Tax Tue, 10 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390219