https://www.taxtmi.com/caselaws?id=448452 The Tribunal ruled in favor of the assessee, a primary agricultural credit society, allowing the appeal against the denial of deduction under section 80P(2)(a)(i) of the Income Tax Act for interest and dividend incomes. Despite the Revenue's reliance on a SC decision to classify the income as arising from surplus funds and assessable under section 56, the Tribunal determined that the income qualifies for deduction under section 80P(2)(d). The stay application filed by the assessee was dismissed as infructuous. en-us Fri, 12 Jan 2024 00:00:00 +0530 Thu, 18 Jan 2024 09:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448452 The Tribunal ruled in favor of the assessee, a primary agricultural credit society, allowing the appeal against the denial of deduction under section 80P(2)(a)(i) of the Income Tax Act for interest and dividend incomes. Despite the Revenue's reliance on a SC decision to classify the income as arising from surplus funds and assessable under section 56, the Tribunal determined that the income qualifies for deduction under section 80P(2)(d). The stay application filed by the assessee was dismissed as infructuous. Case-Laws Income Tax Fri, 12 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448452