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

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Deduction Under Section 80P Upheld for Regional Rural Bank: ITAT Confirms Co-operative Society Status Under RRB Act [Read Order]

Franklin Joshva

The Chennai Bench of the Income Tax Appellate Tribunal ( ITAT ) has affirmed eligibility for deduction under Section 80P of the Income Tax Act,...

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

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

ITAT Upholds Co-op Society’s Tax Exemption, Cites ‘Operational Funds’ to Reject Revenue’s Appeal on...

Interest from Cooperative Banks Deductible u/s 80P(2)(d) as they Fall Under 'Cooperative Society':...

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...

SIB Staff Credit Society Wins Appeal: ITAT Directs CIT(A) to Reconsider Deduction Claim u/s 80P [Read Order]

The Income Tax Appellate Tribunal (ITAT) Cochin Bench has ruled in favor of assessee by directing the Commissioner of Income Tax (Appeals) CIT(A) to reconsider the deduction claim under Section 80P...

ITAT rules against S.80P Income Tax Exemptions for Cooperative Societies on Interest from Nationalized Banks: ITAT [Read Order]

In a noteworthy ruling, the Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) held that cooperative societies are not eligible to avail tax exemptions under Section 80 of the Income Tax...

ITAT quashes AO's Order, upholds deduction under Section 80P for Cooperative Credit Society [Read Order]

In a significant ruling, the Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has upheld that cooperative credit societies are eligible for deductions under Section 80P of the Income Tax Act....

Interest Income from Co-operative Bank qualifies as Business Income: ITAT allows Co-operative Society to claim Deduction u/s 80P [Read Order]

The Nagpur bench of the Income Tax Appellate Tribunal ( ITAT ) held that interest income from a co-operative Bank qualifies as business income and allowed the co-operative society to claim deduction...