ITAT Allows Withdrawal of Revenue Appeal Due to Tax Effect Below CBDT Prescribed Limit

ITO Vs Shakti Mahila Sangh Bahu (ITAT Jabalpur) The case involved an appeal filed by the Income Tax Officer (Revenue) against the order of the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (CIT(A), NFAC), concerning Shakti Mahila Sangh Bahu (Assessee), a multi-purpose co-operative society. The core dispute was the eligibility of the Assessee’s income, specifically commission received from IDBI Bank for acting as a Business Correspondent (BC), for a deduction under Section 80P(2)(a)(i) of the Income Tax Act, 1961. Factual Background and Dispute The Assessee, regis...