https://www.taxtmi.com/caselaws?id=417131 The Tribunal allowed the appeal, ruling that the Principal Commissioner of Income Tax was not justified in invoking power u/s.263 regarding the eligibility of deduction u/s.80P on interest income earned by the Cooperative Society from other cooperative societies. The Tribunal emphasized the debatable nature of the issue and highlighted that if two views exist on an issue, revisional power u/s.263 cannot be exercised. en-us Thu, 13 Jan 2022 00:00:00 +0530 Sat, 15 Jan 2022 08:50:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417131 The Tribunal allowed the appeal, ruling that the Principal Commissioner of Income Tax was not justified in invoking power u/s.263 regarding the eligibility of deduction u/s.80P on interest income earned by the Cooperative Society from other cooperative societies. The Tribunal emphasized the debatable nature of the issue and highlighted that if two views exist on an issue, revisional power u/s.263 cannot be exercised. Case-Laws Income Tax Thu, 13 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417131