Assessing Officer had made enquiries on allowability of deduction under section 80P(2)(d) and passed assessment. The view of Assessing Officer a reasonable and possible view, order passed by Assessing Officer was not erroneous and, thus, revision was unjustified. (AY. 2014-15)
Bardoli Vibhag Gram Vikas Co-Op. Credit Society Ltd. v. PCIT (2021) 189 ITD 601 (Surat)(Trib.)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Co-Operative Societies-Interest from Co-operative banks-Deduction-Possible view-Revision is held to be not valid. [S. 80P(2)(d)]