Read all Latest Updates on and about section 80P of the Income Tax Act

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Interest Income Earned by Co-Operative Society from Deposits With Co-Op Banks & Nationalised Bank Eligible for S. 80P Deduction: ITAT [Read Order]

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) held that interest income earned by a co-operative credit society from deposits with...

Annual Income Tax Case Digest: ITAT Decisions 2025 [Part XV]

Taxpayers Cannot be Left at Mercy of Assessing Officer for Genuine Income Tax Refund Delays:...

Co-Op Society cannot Claim Income Tax Deduction on Interest from Regional Rural Bank Deposits: ITAT...

Deduction Under Section 80P Upheld for Regional Rural Bank: ITAT Confirms Co-operative Society...

Kerala Co-op Bank Secures Tax Win: ITAT allows ₹16.5 Lakh Deduction u/s 80P [Read Order]

The Income Tax Appellate Tribunal (ITAT), Cochin bench, has ruled in favor of the appellant a Co-operative Bank, allowing a deduction of ₹16.48 lakh under Section 80P of the Income Tax Act, 1961....

Total Income 100% Tax-Exempt if S.80P Deduction Allowed: ITAT dismisses appeal noting No Effect on Disallowances [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has dismissed the appeal, noting that disallowances made by the Assessing Officer (AO) had no tax effect as the assessee was already...

ITAT Upholds Co-op Society’s Tax Exemption, Cites ‘Operational Funds’ to Reject Revenue’s Appeal on Interest Income [Read Order]

The Nagpur Bench of the Income Tax Appellate Tribunal (ITAT) has dismissed the Revenue’s appeals and upheld the tax exemption granted to a Co-operative Credit Society under Section 80P of the Income...

Interest from Cooperative Banks Deductible u/s 80P(2)(d) as they Fall Under 'Cooperative Society': Gujarat HC [Read Order]

In a recent ruling, the Gujarat High Court held that cooperative banks are entitled to deductions under Section 80P(2)(d) of the Income Tax Act, as these banks are essentially cooperative societies...

Delay Should Be Viewed Pragmatically, Not Pedantically: ITAT Condones Up to 884 Days’ Delay for Co-op Society to File Appeal [Read Order]

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has condoned delays of up to 884 days in three appeals filed by a cooperative society, ruling that delay should be viewed pragmatically not...

Grounds Not Arising from Subject Matter of CIT(A)'s Order Not Maintainable: ITAT dismisses Appeal [Read Order]

The Cochin Bench of the Income Tax Appellate Tribunal (ITAT) dismissed the appeal holding that grounds of appeal not arising from subject matter of order of the Commissioner of Income Tax (Appeals)...

ITAT Restores Co-op Society’s Appeal, Orders Fresh Hearing on Rs.1.1 Cr 80P Deduction Denial [Read Order]

The Income Tax Appellate Tribunal (ITAT) Panaji Bench has set aside an ex parte order against The Mercantile Co-op Credit Society Ltd., directing the Commissioner of Income Tax (Appeals) [CIT(A)] to...