https://www.taxtmi.com/caselaws?id=310043 The Tribunal allowed the appeal of the assessee, holding that the revisionary order under section 263 lacked jurisdiction. It was determined that the interest income earned by the cooperative society from cooperative banks qualified for deduction under section 80P(2)(d) of the Income-tax Act, 1961. The Tribunal also concluded that the interest income earned on investments with banks was eligible for exemption under section 80P(2)(a)(i). The appeal was allowed, and the revisionary order was deemed unsustainable in law. en-us Thu, 15 Jun 2023 00:00:00 +0530 Wed, 04 Oct 2023 07:19:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310043 The Tribunal allowed the appeal of the assessee, holding that the revisionary order under section 263 lacked jurisdiction. It was determined that the interest income earned by the cooperative society from cooperative banks qualified for deduction under section 80P(2)(d) of the Income-tax Act, 1961. The Tribunal also concluded that the interest income earned on investments with banks was eligible for exemption under section 80P(2)(a)(i). The appeal was allowed, and the revisionary order was deemed unsustainable in law. Case-Laws Income Tax Thu, 15 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310043