https://www.taxtmi.com/caselaws?id=458568 ITAT Pune allowed the assessee's appeal regarding deduction under section 80P(2). The cooperative credit society registered under Maharashtra Cooperative Societies Act, 1960 was held eligible for deduction under section 80P(2)(a)(i) for profit from providing credit facilities to members and interest income from fixed deposits with cooperative banks. The tribunal relied on SC precedent in Mavilayi Service Co-operative Bank Ltd. and AP TS HC decision, noting absence of contrary jurisdictional HC ruling made non-jurisdictional HC decisions binding per Bombay HC in Smt.Godavaridevi Saraf. en-us Fri, 09 Aug 2024 00:00:00 +0530 Wed, 06 Nov 2024 19:52:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458568 ITAT Pune allowed the assessee's appeal regarding deduction under section 80P(2). The cooperative credit society registered under Maharashtra Cooperative Societies Act, 1960 was held eligible for deduction under section 80P(2)(a)(i) for profit from providing credit facilities to members and interest income from fixed deposits with cooperative banks. The tribunal relied on SC precedent in Mavilayi Service Co-operative Bank Ltd. and AP TS HC decision, noting absence of contrary jurisdictional HC ruling made non-jurisdictional HC decisions binding per Bombay HC in Smt.Godavaridevi Saraf. Case-Laws Income Tax Fri, 09 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458568