https://www.taxtmi.com/caselaws?id=441302 The Tribunal allowed the appeal, determining that the assessee, a cooperative society, is eligible for deduction under section 80P of the Income Tax Act, 1961. The Tribunal clarified that the income should be classified as business income and that running chit fund schemes does not affect the assessee's tax-exempt status under section 80P. The decision was rendered on July 31, 2023, under Rule 34 of The Income Tax (Appellate Tribunal) Rules, 1963. en-us Mon, 31 Jul 2023 00:00:00 +0530 Fri, 04 Aug 2023 14:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441302 The Tribunal allowed the appeal, determining that the assessee, a cooperative society, is eligible for deduction under section 80P of the Income Tax Act, 1961. The Tribunal clarified that the income should be classified as business income and that running chit fund schemes does not affect the assessee's tax-exempt status under section 80P. The decision was rendered on July 31, 2023, under Rule 34 of The Income Tax (Appellate Tribunal) Rules, 1963. Case-Laws Income Tax Mon, 31 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441302