AO Conducted Proper Inquiry into S.80P Deduction Claim by Co-Op Society: ITAT quashes Revision Order

The ITAT has quashed a revision order issued by the Commissioner of Income Tax (CIT) after determining that the Assessing Officer (AO) had conducted a thorough inquiry into a co-operative society's claim for deductions under Section 80P. Section 80P provides tax benefits to co-operative societies for their income derived from various activities. The tribunal's decision emphasizes that proper inquiry and due diligence by the AO are essential before issuing any revision orders. This ruling protects the integrity of the assessment process and ensures that claims are evaluated based on comprehensive investigations.