https://www.taxtmi.com/caselaws?id=392171 The Tribunal allowed the deduction claimed by a Souharda Cooperative under section 80P of the Income Tax Act, following the decision of the Karnataka High Court that entities registered under the Karnataka Souharda Sahakari Act, 1997, qualify as cooperative societies. The Tribunal directed the Assessing Officer to re-examine the claim in line with section 80P, emphasizing the importance of promoting the cooperative movement through a liberal interpretation of tax provisions and ensuring proper examination of claims by tax authorities. en-us Tue, 04 Feb 2020 00:00:00 +0530 Fri, 14 Feb 2020 11:56:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392171 The Tribunal allowed the deduction claimed by a Souharda Cooperative under section 80P of the Income Tax Act, following the decision of the Karnataka High Court that entities registered under the Karnataka Souharda Sahakari Act, 1997, qualify as cooperative societies. The Tribunal directed the Assessing Officer to re-examine the claim in line with section 80P, emphasizing the importance of promoting the cooperative movement through a liberal interpretation of tax provisions and ensuring proper examination of claims by tax authorities. Case-Laws Income Tax Tue, 04 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392171