https://www.taxtmi.com/caselaws?id=432900 Regional Rural Banks are treated as cooperative societies for income-tax purposes under the deeming and overriding provisions of the Regional Rural Banks Act, supporting eligibility for deduction on profits from banking business under section 80P(2)(a)(i). The general exclusion for cooperative banks in section 80P(4) does not displace that special statutory characterisation. Appellate authorities may also consider and grant relief on fresh claims raised during appellate proceedings as part of their statutory jurisdiction. The deduction claim was upheld, and the challenge to appellate consideration of the fresh claim failed. en-us Mon, 05 Dec 2022 00:00:00 +0530 Tue, 17 Jan 2023 08:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432900 Regional Rural Banks are treated as cooperative societies for income-tax purposes under the deeming and overriding provisions of the Regional Rural Banks Act, supporting eligibility for deduction on profits from banking business under section 80P(2)(a)(i). The general exclusion for cooperative banks in section 80P(4) does not displace that special statutory characterisation. Appellate authorities may also consider and grant relief on fresh claims raised during appellate proceedings as part of their statutory jurisdiction. The deduction claim was upheld, and the challenge to appellate consideration of the fresh claim failed. Case-Laws Income Tax Mon, 05 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432900