https://www.taxtmi.com/caselaws?id=771224 The ITAT Cochin ruled on deduction claims under Section 80P(2)(a)(i) for an employees' cooperative society of Kerala Police department. The tribunal held that net profit of Rs. 1,53,59,677.04 declared as gross total income, computed per Income Tax Act provisions, constitutes actual cooperative society profit eligible for deduction consideration. However, the matter was remanded to AO for determining actual income from house property and other sources to be taxed separately under respective heads, as the assessee failed to provide audited accounts and income details before the tribunal. en-us Mon, 19 May 2025 00:00:00 +0530 Tue, 20 May 2025 14:34:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771224 The ITAT Cochin ruled on deduction claims under Section 80P(2)(a)(i) for an employees' cooperative society of Kerala Police department. The tribunal held that net profit of Rs. 1,53,59,677.04 declared as gross total income, computed per Income Tax Act provisions, constitutes actual cooperative society profit eligible for deduction consideration. However, the matter was remanded to AO for determining actual income from house property and other sources to be taxed separately under respective heads, as the assessee failed to provide audited accounts and income details before the tribunal. Case-Laws Income Tax Mon, 19 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771224