https://www.taxtmi.com/caselaws?id=436868 The Tribunal allowed the appeal, holding that the interest income earned by the credit society is connected to its business activities and eligible for deduction under Section 80P(2) of the Income-Tax Act. The decision emphasized the society's utilization of interest income for providing credit facilities and repayment to members. The Assessing Officer was directed to allow the deduction of Rs.32,30,040. en-us Wed, 19 Apr 2023 00:00:00 +0530 Sat, 22 Apr 2023 08:03:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436868 The Tribunal allowed the appeal, holding that the interest income earned by the credit society is connected to its business activities and eligible for deduction under Section 80P(2) of the Income-Tax Act. The decision emphasized the society's utilization of interest income for providing credit facilities and repayment to members. The Assessing Officer was directed to allow the deduction of Rs.32,30,040. Case-Laws Income Tax Wed, 19 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436868