https://www.taxtmi.com/caselaws?id=764104 The Tribunal upheld the CIT(A)'s decisions on two key issues. First, it affirmed the allowance of deductions under Section 80P(2)(a)(i) of the Income Tax Act for the assessee, a primary agricultural credit society, based on the Supreme Court's decision in Mavilayi Service Co-operative Bank Ltd. v. Commissioner of Income Tax, Calicut. Second, it confirmed that the assessee was exempt from tax deduction at source on interest payments under Section 194A(3)(viia), dismissing the Revenue's appeal on both grounds. en-us Thu, 26 Dec 2024 00:00:00 +0530 Thu, 02 Jan 2025 17:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764104 The Tribunal upheld the CIT(A)'s decisions on two key issues. First, it affirmed the allowance of deductions under Section 80P(2)(a)(i) of the Income Tax Act for the assessee, a primary agricultural credit society, based on the Supreme Court's decision in Mavilayi Service Co-operative Bank Ltd. v. Commissioner of Income Tax, Calicut. Second, it confirmed that the assessee was exempt from tax deduction at source on interest payments under Section 194A(3)(viia), dismissing the Revenue's appeal on both grounds. Case-Laws Income Tax Thu, 26 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764104