https://www.taxtmi.com/caselaws?id=285811 The Tribunal ruled in favor of the assessee, a Co-operative Society, in a case involving challenges to the validity of an order under section 263 of the Income Tax Act. The Tribunal found that the assessee did not fall within the restrictions of section 80P of the Act based on previous decisions, setting aside the order under section 263 and allowing the assessee's appeal. Additionally, the Tribunal overturned the classification of the assessee as a Co-operative Bank, emphasizing that the deduction claimed under section 80P was valid and not prejudicial to revenue. en-us Fri, 23 Sep 2016 00:00:00 +0530 Tue, 28 Jan 2020 09:47:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285811 The Tribunal ruled in favor of the assessee, a Co-operative Society, in a case involving challenges to the validity of an order under section 263 of the Income Tax Act. The Tribunal found that the assessee did not fall within the restrictions of section 80P of the Act based on previous decisions, setting aside the order under section 263 and allowing the assessee's appeal. Additionally, the Tribunal overturned the classification of the assessee as a Co-operative Bank, emphasizing that the deduction claimed under section 80P was valid and not prejudicial to revenue. Case-Laws Income Tax Fri, 23 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285811