https://www.taxtmi.com/caselaws?id=441055 The Tribunal allowed the appeals for both assessment years 2013-14 and 2014-15, granting deductions claimed under section 80P(2) to the co-operative credit society. The Tribunal held that the society, not being a co-operative bank under the Banking Regulation Act, was entitled to the deductions, as section 80P(4) did not apply. Consequently, the interest levied under sections 234B and 234C needed recalibration in line with the deductions allowed. The Tribunal stressed the importance of adhering to judicial precedents in similar cases. en-us Thu, 27 Jul 2023 00:00:00 +0530 Mon, 31 Jul 2023 10:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441055 The Tribunal allowed the appeals for both assessment years 2013-14 and 2014-15, granting deductions claimed under section 80P(2) to the co-operative credit society. The Tribunal held that the society, not being a co-operative bank under the Banking Regulation Act, was entitled to the deductions, as section 80P(4) did not apply. Consequently, the interest levied under sections 234B and 234C needed recalibration in line with the deductions allowed. The Tribunal stressed the importance of adhering to judicial precedents in similar cases. Case-Laws Income Tax Thu, 27 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441055