https://www.taxtmi.com/caselaws?id=765899 A co-operative society's entitlement to deduction under Section 80P was examined in light of the exclusion in Section 80P(4). The Tribunal applied the Supreme Court ruling in Mavilayi Service Cooperative Bank Ltd. v. CIT as binding precedent and held that the deduction could not be denied on the basis adopted by the Assessing Officer and the first appellate authority. The assessee was accordingly held entitled to the Section 80P deduction, and the disallowance was set aside. en-us Mon, 10 Feb 2025 00:00:00 +0530 Wed, 12 Feb 2025 08:30:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765899 A co-operative society's entitlement to deduction under Section 80P was examined in light of the exclusion in Section 80P(4). The Tribunal applied the Supreme Court ruling in Mavilayi Service Cooperative Bank Ltd. v. CIT as binding precedent and held that the deduction could not be denied on the basis adopted by the Assessing Officer and the first appellate authority. The assessee was accordingly held entitled to the Section 80P deduction, and the disallowance was set aside. Case-Laws Income Tax Mon, 10 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765899