https://www.taxtmi.com/caselaws?id=405883 The Tribunal allowed the appeal for statistical purposes, directing a reevaluation based on legal precedents. The Tribunal emphasized aligning the definition of "members" with the State Co-operative Act for deductions under Section 80P(2)(a)(i) of the Income Tax Act. Regarding interest income from Co-operative Banks, the Tribunal instructed a reassessment considering conflicting judgments and the applicability of deductions under Section 80P(2)(d). The case was remanded to the Assessing Officer for reconsideration, allowing the Assessee to provide additional evidence for fresh review. en-us Tue, 30 Mar 2021 00:00:00 +0530 Wed, 31 Mar 2021 09:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405883 The Tribunal allowed the appeal for statistical purposes, directing a reevaluation based on legal precedents. The Tribunal emphasized aligning the definition of "members" with the State Co-operative Act for deductions under Section 80P(2)(a)(i) of the Income Tax Act. Regarding interest income from Co-operative Banks, the Tribunal instructed a reassessment considering conflicting judgments and the applicability of deductions under Section 80P(2)(d). The case was remanded to the Assessing Officer for reconsideration, allowing the Assessee to provide additional evidence for fresh review. Case-Laws Income Tax Tue, 30 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405883