https://www.taxtmi.com/caselaws?id=404935 The Tribunal overturned the denial of deduction under section 80P2(a)(i) of the Income Tax Act to a Society registered under the Karnataka Souharda Sahakari Act, 1997. Despite not falling within the definition of a cooperative society under section 2(19) of the Act according to the Assessing Officer, the Tribunal considered the entity as a cooperative society based on functional autonomy and legislative history. The decision aligned with judicial precedents, emphasizing that registration under state law does not disqualify an entity from claiming deductions under the Income Tax Act. en-us Thu, 04 Mar 2021 00:00:00 +0530 Mon, 08 Mar 2021 09:29:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404935 The Tribunal overturned the denial of deduction under section 80P2(a)(i) of the Income Tax Act to a Society registered under the Karnataka Souharda Sahakari Act, 1997. Despite not falling within the definition of a cooperative society under section 2(19) of the Act according to the Assessing Officer, the Tribunal considered the entity as a cooperative society based on functional autonomy and legislative history. The decision aligned with judicial precedents, emphasizing that registration under state law does not disqualify an entity from claiming deductions under the Income Tax Act. Case-Laws Income Tax Thu, 04 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404935