Section 80P: Commercial Activity Income Ineligible for Deduction

Jetalpur Seva Sahkari Mandali Limited Vs DCIT (ITAT Ahmedabad)

Introduction: The Income Tax Appellate Tribunal (ITAT) Ahmedabad has ruled in the case of Jetalpur Seva Sahkari Mandali Limited Vs DCIT that income derived from commercial activities cannot be claimed as a deduction under Section 80P of the Income Tax Act.

Analysis: In this case, the assessee, Jetalpur Seva Sahkari Mandali Limited, claimed deductions under Section 80P for the interest income re

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