https://www.taxtmi.com/caselaws?id=754753 ITAT Raipur allowed co-operative society's appeal on multiple deduction claims under Section 80P. Court permitted deduction under Section 80P(2)(a)(i) for interest income on surplus funds deposited in banks, following precedent from Gramin Sewa Sahakari Samiti case. For paddy procurement business deduction under Section 80P(2)(a)(iii), matter was remanded to AO for fresh adjudication to determine extent of non-member transactions. Court also allowed deduction under Section 80P(2)(d) for dividend income received from co-operative bank shares, reversing lower authority's denial. en-us Wed, 21 Feb 2024 00:00:00 +0530 Fri, 28 Jun 2024 12:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754753 ITAT Raipur allowed co-operative society's appeal on multiple deduction claims under Section 80P. Court permitted deduction under Section 80P(2)(a)(i) for interest income on surplus funds deposited in banks, following precedent from Gramin Sewa Sahakari Samiti case. For paddy procurement business deduction under Section 80P(2)(a)(iii), matter was remanded to AO for fresh adjudication to determine extent of non-member transactions. Court also allowed deduction under Section 80P(2)(d) for dividend income received from co-operative bank shares, reversing lower authority's denial. Case-Laws Income Tax Wed, 21 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754753