https://www.taxtmi.com/caselaws?id=756983 ITAT Ahmedabad held that reopening of assessment u/s 147 was invalid as it constituted a second opinion on the same issue already dealt with in original assessment. The assessee had filed return and provided detailed replies regarding dividend and interest from cooperative societies. Regarding deduction u/s 80P(2)(d), following Gujarat HC decision in Surat District Co-op. Milk Producers Union case, interest and dividend from Ahmedabad District Co-op. Bank and Gujarat State Cooperative Bank were held eligible for deduction as these entities are cooperative societies registered under Gujarat Co-operative Societies Act, 1961. Revenue's appeal dismissed, decided in favor of assessee. en-us Fri, 09 Aug 2024 00:00:00 +0530 Mon, 12 Aug 2024 14:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756983 ITAT Ahmedabad held that reopening of assessment u/s 147 was invalid as it constituted a second opinion on the same issue already dealt with in original assessment. The assessee had filed return and provided detailed replies regarding dividend and interest from cooperative societies. Regarding deduction u/s 80P(2)(d), following Gujarat HC decision in Surat District Co-op. Milk Producers Union case, interest and dividend from Ahmedabad District Co-op. Bank and Gujarat State Cooperative Bank were held eligible for deduction as these entities are cooperative societies registered under Gujarat Co-operative Societies Act, 1961. Revenue's appeal dismissed, decided in favor of assessee. Case-Laws Income Tax Fri, 09 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756983