https://www.taxtmi.com/caselaws?id=400148 The claim for deduction under section 80P(2)(a)(i) required fresh examination in light of section 80P(4) and the later Supreme Court distinction between a co-operative society and a co-operative bank. The central question was whether a society engaged in advancing credit to members fell within the banking exclusion, which would deny the deduction. Because the earlier allowance had not considered that later ruling, and the assessee's own later years had already been sent back for reconsideration on the same basis, the matter was remitted to the Assessing Officer for a fresh decision on the facts and applicable legal test. The deduction claim was not finally decided on merits. en-us Mon, 05 Oct 2020 00:00:00 +0530 Tue, 05 Nov 2024 11:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400148 The claim for deduction under section 80P(2)(a)(i) required fresh examination in light of section 80P(4) and the later Supreme Court distinction between a co-operative society and a co-operative bank. The central question was whether a society engaged in advancing credit to members fell within the banking exclusion, which would deny the deduction. Because the earlier allowance had not considered that later ruling, and the assessee's own later years had already been sent back for reconsideration on the same basis, the matter was remitted to the Assessing Officer for a fresh decision on the facts and applicable legal test. The deduction claim was not finally decided on merits. Case-Laws Income Tax Mon, 05 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400148