https://www.taxtmi.com/caselaws?id=390297 The Tribunal allowed the appeal for the Assessment Years 2012-13 and 2013-14, holding that the appellant, a Co-operative Consumers Stores, qualified for exemption based on the principle of mutuality for interest income earned from a Co-operative Bank. The Tribunal determined that the appellant operated on the principles of mutuality, providing goods to members without profit motive. It concluded that the appellant was entitled to a full deduction under section 80P(2)(d) for interest income, setting aside the lower authorities' decisions and ruling in favor of the appellant. en-us Mon, 25 Nov 2019 00:00:00 +0530 Sun, 29 Dec 2019 08:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390297 The Tribunal allowed the appeal for the Assessment Years 2012-13 and 2013-14, holding that the appellant, a Co-operative Consumers Stores, qualified for exemption based on the principle of mutuality for interest income earned from a Co-operative Bank. The Tribunal determined that the appellant operated on the principles of mutuality, providing goods to members without profit motive. It concluded that the appellant was entitled to a full deduction under section 80P(2)(d) for interest income, setting aside the lower authorities' decisions and ruling in favor of the appellant. Case-Laws Income Tax Mon, 25 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390297