https://www.taxtmi.com/caselaws?id=298394 The Tribunal remanded the case to the Assessing Officer after the appellant obtains a certificate from the RBI clarifying its business nature. The appellant was found ineligible for deduction under Section 80P(2)(a)(i) of the Act due to violations of the MACSA and engaging in finance activities beyond cooperative society operations. The Tribunal emphasized the importance of compliance with regulatory frameworks governing cooperative societies and the necessity of obtaining a certificate from the RBI for accurate business classification. The appeal was allowed for statistical purposes, stressing the need for proper adherence to regulatory requirements and classification based on cooperative operations. en-us Mon, 31 Dec 2018 00:00:00 +0530 Sat, 30 Oct 2021 08:05:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298394 The Tribunal remanded the case to the Assessing Officer after the appellant obtains a certificate from the RBI clarifying its business nature. The appellant was found ineligible for deduction under Section 80P(2)(a)(i) of the Act due to violations of the MACSA and engaging in finance activities beyond cooperative society operations. The Tribunal emphasized the importance of compliance with regulatory frameworks governing cooperative societies and the necessity of obtaining a certificate from the RBI for accurate business classification. The appeal was allowed for statistical purposes, stressing the need for proper adherence to regulatory requirements and classification based on cooperative operations. Case-Laws Income Tax Mon, 31 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298394