Tribunal Upholds Assessee's Appeal on Club House Income Taxability and Section 80P(2)(d) Deductions for Cooperative Interest.

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....Deduction u/s. 80P(2)(d) - interest income earned from other cooperative banks/societies - Principle of mutuality - Taxability of Club House income - The Tribunal analyzed each issue raised by the assessee and provided detailed findings and decisions. It upheld the assessee's contentions regarding the assessment of total income, taxability of club house income, and disallowance of deduction under Section 80P(2)(d), thereby allowing the appeal on these grounds.....