https://www.taxtmi.com/caselaws?id=416159 The Tribunal allowed the appeal, directing the Assessing Officer to grant the deduction under section 80P(2)(c) of the Income Tax Act. The decision clarified that income from non-members does not qualify for deduction under section 80P(2)(a)(i) and emphasized the eligibility of cooperative societies for basic deductions under section 80P(2)(c) for specified activities, including rental and interest income. The judgment provided a comprehensive analysis of relevant provisions and case law, distinguishing between income attributable to members and non-members for deduction purposes. en-us Thu, 25 Nov 2021 00:00:00 +0530 Wed, 22 Dec 2021 07:50:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416159 The Tribunal allowed the appeal, directing the Assessing Officer to grant the deduction under section 80P(2)(c) of the Income Tax Act. The decision clarified that income from non-members does not qualify for deduction under section 80P(2)(a)(i) and emphasized the eligibility of cooperative societies for basic deductions under section 80P(2)(c) for specified activities, including rental and interest income. The judgment provided a comprehensive analysis of relevant provisions and case law, distinguishing between income attributable to members and non-members for deduction purposes. Case-Laws Income Tax Thu, 25 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416159