https://www.taxtmi.com/caselaws?id=776331 The ITAT held that a primary agricultural credit society is entitled to deduction under section 80P(2)(a)(i) only on income attributable to providing credit facilities to its members. The assessee claimed deduction on interest income from investments and miscellaneous income, asserting these were related to its credit activities. The CIT(A) denied deduction on miscellaneous income due to lack of details but directed verification of interest income under section 80P(2)(d). The ITAT restored the matter to the AO, directing the assessee to substantiate that such incomes are attributable to credit activities. The AO must verify and determine eligibility for deduction under section 80P(2)(a)(i) after giving the assessee an opportunity of hearing. en-us Fri, 03 Jan 2025 00:00:00 +0530 Fri, 08 Aug 2025 05:20:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776331 The ITAT held that a primary agricultural credit society is entitled to deduction under section 80P(2)(a)(i) only on income attributable to providing credit facilities to its members. The assessee claimed deduction on interest income from investments and miscellaneous income, asserting these were related to its credit activities. The CIT(A) denied deduction on miscellaneous income due to lack of details but directed verification of interest income under section 80P(2)(d). The ITAT restored the matter to the AO, directing the assessee to substantiate that such incomes are attributable to credit activities. The AO must verify and determine eligibility for deduction under section 80P(2)(a)(i) after giving the assessee an opportunity of hearing. Case-Laws Income Tax Fri, 03 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776331