https://www.taxtmi.com/caselaws?id=426561 The Tribunal allowed the appeal of the registered co-operative society, emphasizing that the denial of deduction under section 80P(2)(a)(i) of the Income-tax Act, 1961 was unwarranted. The Tribunal held that the society qualified for the deduction as it was engaged in providing credit facilities to its members, and the income derived from such activities fell within the scope of the deduction. Additionally, the Tribunal ruled that interest income received on refunds under section 244A of the Act was also eligible for deduction under section 80P(2)(a)(i). en-us Wed, 17 Aug 2022 00:00:00 +0530 Sat, 20 Aug 2022 08:27:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426561 The Tribunal allowed the appeal of the registered co-operative society, emphasizing that the denial of deduction under section 80P(2)(a)(i) of the Income-tax Act, 1961 was unwarranted. The Tribunal held that the society qualified for the deduction as it was engaged in providing credit facilities to its members, and the income derived from such activities fell within the scope of the deduction. Additionally, the Tribunal ruled that interest income received on refunds under section 244A of the Act was also eligible for deduction under section 80P(2)(a)(i). Case-Laws Income Tax Wed, 17 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426561