https://www.taxtmi.com/caselaws?id=308871 The Tribunal ruled in favor of the cooperative society, allowing the claim of exemption under section 80P (2)(a)(i) of the Act for interest income from investments, despite the AO and FAA disallowing it for income from non-cooperative institutions. The Tribunal also favored the assessee in allowing proportionate expenses against interest income and held that the income from non-cooperative institutions should not be treated as taxable income from other sources. The appeals for both Assessment Years were allowed, providing a comprehensive resolution to the legal issues raised in the case. en-us Fri, 01 Jan 2016 00:00:00 +0530 Sat, 29 Jul 2023 08:13:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308871 The Tribunal ruled in favor of the cooperative society, allowing the claim of exemption under section 80P (2)(a)(i) of the Act for interest income from investments, despite the AO and FAA disallowing it for income from non-cooperative institutions. The Tribunal also favored the assessee in allowing proportionate expenses against interest income and held that the income from non-cooperative institutions should not be treated as taxable income from other sources. The appeals for both Assessment Years were allowed, providing a comprehensive resolution to the legal issues raised in the case. Case-Laws Income Tax Fri, 01 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308871