https://www.taxtmi.com/caselaws?id=754613 Eligibility for deduction under section 80P(2)(a)(i) depended on the assessee's membership structure and the permissibility of nominal or associate members under the governing co-operative law, so the claim was not finally denied and was remitted for de novo examination. Deduction under section 80P(2)(d) for interest income from deposits with co-operative banks or co-operative societies also required verification of the source of income and the recipient's statutory character, and was restored to the Assessing Officer. The alternative claim for deduction of related expenditure under section 57, if the interest was assessed as income from other sources, was likewise left for examination in accordance with law. en-us Tue, 07 May 2024 00:00:00 +0530 Wed, 26 Jun 2024 10:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754613 Eligibility for deduction under section 80P(2)(a)(i) depended on the assessee's membership structure and the permissibility of nominal or associate members under the governing co-operative law, so the claim was not finally denied and was remitted for de novo examination. Deduction under section 80P(2)(d) for interest income from deposits with co-operative banks or co-operative societies also required verification of the source of income and the recipient's statutory character, and was restored to the Assessing Officer. The alternative claim for deduction of related expenditure under section 57, if the interest was assessed as income from other sources, was likewise left for examination in accordance with law. Case-Laws Income Tax Tue, 07 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754613