https://www.taxtmi.com/caselaws?id=398506 The Tribunal allowed the appeals for statistical purposes and dismissed the stay applications as infructuous. It directed a fresh examination by the Assessing Officer to ascertain the nature of loan disbursements and determine eligibility for deduction under section 80P of the I.T.Act. The Tribunal emphasized adherence to the guidelines from the Full Bench of the Kerala HC in the Mavilayi case, requiring a thorough evaluation of the assessees' activities to establish compliance with deduction criteria. This decision underscores the necessity for a detailed assessment by the Assessing Officer to determine cooperative societies' eligibility for deductions under the I.T.Act. en-us Tue, 15 Sep 2020 00:00:00 +0530 Fri, 08 Nov 2024 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398506 The Tribunal allowed the appeals for statistical purposes and dismissed the stay applications as infructuous. It directed a fresh examination by the Assessing Officer to ascertain the nature of loan disbursements and determine eligibility for deduction under section 80P of the I.T.Act. The Tribunal emphasized adherence to the guidelines from the Full Bench of the Kerala HC in the Mavilayi case, requiring a thorough evaluation of the assessees' activities to establish compliance with deduction criteria. This decision underscores the necessity for a detailed assessment by the Assessing Officer to determine cooperative societies' eligibility for deductions under the I.T.Act. Case-Laws Income Tax Tue, 15 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398506