https://www.taxtmi.com/caselaws?id=395343 The tribunal ruled in favor of the appellant, a cooperative society providing financial services, allowing their claim for deduction under section 80P of the Income Tax Act. The tribunal emphasized that cooperatives registered under the Karnataka Souharda Sahakari Act are entitled to this deduction, highlighting their functional autonomy in business operations. The appellant's classification as a cooperative society under the Act was affirmed, granting them benefits under section 80P. The tribunal remanded certain issues back to the Assessing Officer for further examination, focusing on the appellant's eligibility for deductions and benefits as a cooperative entity. en-us Mon, 27 Apr 2020 00:00:00 +0530 Sun, 17 May 2020 18:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395343 The tribunal ruled in favor of the appellant, a cooperative society providing financial services, allowing their claim for deduction under section 80P of the Income Tax Act. The tribunal emphasized that cooperatives registered under the Karnataka Souharda Sahakari Act are entitled to this deduction, highlighting their functional autonomy in business operations. The appellant's classification as a cooperative society under the Act was affirmed, granting them benefits under section 80P. The tribunal remanded certain issues back to the Assessing Officer for further examination, focusing on the appellant's eligibility for deductions and benefits as a cooperative entity. Case-Laws Income Tax Mon, 27 Apr 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395343