https://www.taxtmi.com/caselaws?id=417522 The Tribunal partially allowed the appeals by a co-operative credit society, granting deductions under section 80P(2)(a)(i) for eligible income directly related to providing credit facilities to members. It directed the calculation of net income after deducting relevant expenses and allowed the basic deduction of Rs. 50,000 under section 80P(2)(c) for income not covered under section 80P(2)(a)(i). The decisions were based on the specific provisions of the Income Tax Act, 1961, and relevant judicial precedents, ensuring adherence to the legal framework governing deductions for co-operative credit societies. en-us Wed, 01 Dec 2021 00:00:00 +0530 Wed, 20 May 2026 18:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417522 The Tribunal partially allowed the appeals by a co-operative credit society, granting deductions under section 80P(2)(a)(i) for eligible income directly related to providing credit facilities to members. It directed the calculation of net income after deducting relevant expenses and allowed the basic deduction of Rs. 50,000 under section 80P(2)(c) for income not covered under section 80P(2)(a)(i). The decisions were based on the specific provisions of the Income Tax Act, 1961, and relevant judicial precedents, ensuring adherence to the legal framework governing deductions for co-operative credit societies. Case-Laws Income Tax Wed, 01 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417522