https://www.taxtmi.com/caselaws?id=408862 The Tribunal allowed the appeal, directing the grant of deduction u/s 80P(2)(a)(i) to the Co-operative society. The decision was based on the interpretation that 'Member' under the Maharashtra Act includes Nominal Members, aligning with a Supreme Court judgment regarding the eligibility of loans to Nominal Members. The Tribunal overturned the lower authorities' denial of deduction, emphasizing the consistent interpretation of 'Member' across state Acts and the absence of differentiation between registered and nominal members in the Maharashtra Act. This ruling ensured the assessee's entitlement to the deduction under the Income-tax Act, 1961. en-us Mon, 21 Jun 2021 00:00:00 +0530 Wed, 23 Jun 2021 10:12:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408862 The Tribunal allowed the appeal, directing the grant of deduction u/s 80P(2)(a)(i) to the Co-operative society. The decision was based on the interpretation that 'Member' under the Maharashtra Act includes Nominal Members, aligning with a Supreme Court judgment regarding the eligibility of loans to Nominal Members. The Tribunal overturned the lower authorities' denial of deduction, emphasizing the consistent interpretation of 'Member' across state Acts and the absence of differentiation between registered and nominal members in the Maharashtra Act. This ruling ensured the assessee's entitlement to the deduction under the Income-tax Act, 1961. Case-Laws Income Tax Mon, 21 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408862