https://www.taxtmi.com/caselaws?id=394528 The Tribunal upheld the decision to disallow the exemption claim under section 80P(2)(a)(i) for a cooperative society regarding interest income from Axis Bank and loans to staff. The Tribunal agreed with the lower authorities, citing legal precedents and specific provisions, leading to the dismissal of the assessee's appeal. The judgment clarified that income from investments in non-cooperative banks and interest on loans to staff do not qualify for the exemption, in line with established legal principles and previous court decisions. en-us Wed, 05 Feb 2020 00:00:00 +0530 Wed, 15 Apr 2020 14:42:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394528 The Tribunal upheld the decision to disallow the exemption claim under section 80P(2)(a)(i) for a cooperative society regarding interest income from Axis Bank and loans to staff. The Tribunal agreed with the lower authorities, citing legal precedents and specific provisions, leading to the dismissal of the assessee's appeal. The judgment clarified that income from investments in non-cooperative banks and interest on loans to staff do not qualify for the exemption, in line with established legal principles and previous court decisions. Case-Laws Income Tax Wed, 05 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394528