https://www.taxtmi.com/caselaws?id=304105 The Tribunal allowed the appeal, affirming the appellant's eligibility for exemption under section 80P(2)(d) of the Income Tax Act for interest income from cooperative societies. It held that distinctions between short-term and long-term investments for such exemption were not supported by the Act. The decision in favor of the appellant in both assessment years emphasized adherence to legislative intent and statutory language in interpreting tax exemptions for cooperative societies. en-us Tue, 10 May 2022 00:00:00 +0530 Thu, 08 Sep 2022 07:21:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304105 The Tribunal allowed the appeal, affirming the appellant's eligibility for exemption under section 80P(2)(d) of the Income Tax Act for interest income from cooperative societies. It held that distinctions between short-term and long-term investments for such exemption were not supported by the Act. The decision in favor of the appellant in both assessment years emphasized adherence to legislative intent and statutory language in interpreting tax exemptions for cooperative societies. Case-Laws Income Tax Tue, 10 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304105