https://www.taxtmi.com/caselaws?id=285342 The Appellate Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) in favor of the assessee, confirming their entitlement to the deduction under section 80P(2)(a)(i). The Tribunal noted that the assessee was a cooperative society and not a cooperative bank, thus eligible for the deduction. Legal precedents from the High Court and the Supreme Court supported this conclusion, emphasizing the lack of a Reserve Bank of India license for the assessee to operate as a cooperative bank, thereby excluding them from the provisions of section 80P(4). Consequently, the Revenue's appeal was dismissed. en-us Wed, 13 Dec 2017 00:00:00 +0530 Thu, 09 Jan 2020 09:33:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285342 The Appellate Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) in favor of the assessee, confirming their entitlement to the deduction under section 80P(2)(a)(i). The Tribunal noted that the assessee was a cooperative society and not a cooperative bank, thus eligible for the deduction. Legal precedents from the High Court and the Supreme Court supported this conclusion, emphasizing the lack of a Reserve Bank of India license for the assessee to operate as a cooperative bank, thereby excluding them from the provisions of section 80P(4). Consequently, the Revenue's appeal was dismissed. Case-Laws Income Tax Wed, 13 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285342