Section 80P deduction on Income from Loan to nominal / associate member: ITAT Remands case to CIT(A)

Hunnur Souhard Credit Sahakari Vs ITO (ITAT Bangalore) Section 80P deduction on Income from Loan to nominal / associate member: ITAT Remands Decision to CIT(A) for Fresh Review The Income Tax Appellate Tribunal (ITAT) in Bangalore has decided to remand the case of Hunnur Souhard Credit Sahakari vs. Income Tax Officer (ITO) concerning the applicability of Section 80P of the Income Tax Act, 1961. This case pertains to the assessment year 2017-18, where the National Faceless Assessment Centre (NFAC) had previously rejected the assessee’s claim for a deduction under Section 80P(2)(a)(i). Bac...