https://www.taxtmi.com/caselaws?id=772842 The SC/Tribunal ruled in favor of the cooperative society, allowing deduction under Section 80P(2)(a)(i) of the Income Tax Act. The court interpreted the provision liberally, rejecting revenue's arguments that the society's diverse activities and limited banking services disqualified it from tax benefits. The tribunal held that the deduction should be construed broadly to encourage cooperative sector development, setting aside the disallowance of over Rs. 5 crore. en-us Mon, 28 Apr 2025 00:00:00 +0530 Sat, 14 Jun 2025 06:47:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772842 The SC/Tribunal ruled in favor of the cooperative society, allowing deduction under Section 80P(2)(a)(i) of the Income Tax Act. The court interpreted the provision liberally, rejecting revenue's arguments that the society's diverse activities and limited banking services disqualified it from tax benefits. The tribunal held that the deduction should be construed broadly to encourage cooperative sector development, setting aside the disallowance of over Rs. 5 crore. Case-Laws Income Tax Mon, 28 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772842