https://www.taxtmi.com/caselaws?id=448367 The ITAT Cochin allowed the assessee's appeal regarding deduction under Section 80P(1) read with Section 80P(2)(a)(i). The Revenue had disallowed the claim for interest and dividend income from investments with cooperative banks, commercial banks, and financial institutions, plus commission income and dividend from unlisted equities. The Tribunal held that the assessee, being a cooperative society engaged in banking business, was entitled to deduction under Section 80P(2)(a)(i) for banking business income and provision of credit to members. Interest/dividend income from cooperative banks would be covered under Section 80P(2)(d), while dividend from unlisted securities would fall under Section 80P(2)(c), subject to applicable limits. en-us Thu, 28 Dec 2023 00:00:00 +0530 Wed, 17 Jan 2024 16:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448367 The ITAT Cochin allowed the assessee's appeal regarding deduction under Section 80P(1) read with Section 80P(2)(a)(i). The Revenue had disallowed the claim for interest and dividend income from investments with cooperative banks, commercial banks, and financial institutions, plus commission income and dividend from unlisted equities. The Tribunal held that the assessee, being a cooperative society engaged in banking business, was entitled to deduction under Section 80P(2)(a)(i) for banking business income and provision of credit to members. Interest/dividend income from cooperative banks would be covered under Section 80P(2)(d), while dividend from unlisted securities would fall under Section 80P(2)(c), subject to applicable limits. Case-Laws Income Tax Thu, 28 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448367