https://www.taxtmi.com/caselaws?id=432865 The Tribunal concluded that the cooperative society is entitled to a deduction under Section 80P(1) for income earned from providing credit facilities to its members. The interest income from bank deposits, considered integral to the specified activity, is also eligible for deduction. The disallowance of Rs. 7,49,40,575 was deleted, and the addition of Rs. 13,76,224 made by the CIT(A) was upheld. The Revenue's appeal was disposed of accordingly. en-us Wed, 11 Jan 2023 00:00:00 +0530 Fri, 13 Jan 2023 11:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432865 The Tribunal concluded that the cooperative society is entitled to a deduction under Section 80P(1) for income earned from providing credit facilities to its members. The interest income from bank deposits, considered integral to the specified activity, is also eligible for deduction. The disallowance of Rs. 7,49,40,575 was deleted, and the addition of Rs. 13,76,224 made by the CIT(A) was upheld. The Revenue's appeal was disposed of accordingly. Case-Laws Income Tax Wed, 11 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432865