https://www.taxtmi.com/caselaws?id=772589 Tribunal Decision on Income Tax Deductions for Cooperative Society:The Tribunal partially allowed deductions for a cooperative society under section 80P(2)(d) of the Income Tax Act. It permitted Rs. 10,58,455/- as deduction for interest income from cooperative bank fixed deposits, based on jurisdictional HC precedent. The Tribunal disallowed additional expenses of Rs. 34,72,602/- to prevent double taxation, finding the expenses were already accounted for in business income. The ruling provides nuanced interpretation of tax exemptions for cooperative societies. en-us Thu, 27 Mar 2025 00:00:00 +0530 Wed, 11 Jun 2025 08:36:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772589 Tribunal Decision on Income Tax Deductions for Cooperative Society:The Tribunal partially allowed deductions for a cooperative society under section 80P(2)(d) of the Income Tax Act. It permitted Rs. 10,58,455/- as deduction for interest income from cooperative bank fixed deposits, based on jurisdictional HC precedent. The Tribunal disallowed additional expenses of Rs. 34,72,602/- to prevent double taxation, finding the expenses were already accounted for in business income. The ruling provides nuanced interpretation of tax exemptions for cooperative societies. Case-Laws Income Tax Thu, 27 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772589