https://www.taxtmi.com/caselaws?id=783186 The assessee, a cooperative society engaged in providing credit facilities to its members and in sugar manufacturing, claimed deduction u/s 80P(2)(a)(i) on profits from the credit facility business. The AO rejected the claim, alleging absence of separate books and estimating income proportionately across activities, resulting in an addition. The ITAT found that the assessee had produced separate audited profit and loss accounts for the credit facility and sugar manufacturing businesses, showing genuine profit from member credit activities and loss from sugar operations, which remained uncontroverted by the Revenue. Holding the AO's estimations unjustified, the ITAT allowed the assessee's appeal. en-us Fri, 28 Nov 2025 00:00:00 +0530 Thu, 11 Dec 2025 08:55:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783186 The assessee, a cooperative society engaged in providing credit facilities to its members and in sugar manufacturing, claimed deduction u/s 80P(2)(a)(i) on profits from the credit facility business. The AO rejected the claim, alleging absence of separate books and estimating income proportionately across activities, resulting in an addition. The ITAT found that the assessee had produced separate audited profit and loss accounts for the credit facility and sugar manufacturing businesses, showing genuine profit from member credit activities and loss from sugar operations, which remained uncontroverted by the Revenue. Holding the AO's estimations unjustified, the ITAT allowed the assessee's appeal. Case-Laws Income Tax Fri, 28 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783186