https://www.taxtmi.com/caselaws?id=440583 The Appellate Tribunal ITAT PANAJI allowed twin appeals ITA.Nos.228 & 214/PAN./2019 for assessment years 2015-2016 & 2016-2017. The disallowance of sec. 80P(2)(a)(i) deduction was overturned, citing Mavilayi Service Co-operative Bank Ltd. [2021] 431 ITR 1 (SC), clarifying that nominal members do not affect eligibility for the deduction. The Tribunal ruled in favor of the assessee, emphasizing that the presence of nominal members does not bar claiming the deduction. en-us Wed, 19 Jul 2023 00:00:00 +0530 Thu, 20 Jul 2023 13:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440583 The Appellate Tribunal ITAT PANAJI allowed twin appeals ITA.Nos.228 & 214/PAN./2019 for assessment years 2015-2016 & 2016-2017. The disallowance of sec. 80P(2)(a)(i) deduction was overturned, citing Mavilayi Service Co-operative Bank Ltd. [2021] 431 ITR 1 (SC), clarifying that nominal members do not affect eligibility for the deduction. The Tribunal ruled in favor of the assessee, emphasizing that the presence of nominal members does not bar claiming the deduction. Case-Laws Income Tax Wed, 19 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440583