ITAT Restores Co-op Society’s Appeal, Orders Fresh Hearing on Rs.1.1 Cr 80P Deduction Denial

ITAT restored a co-operative society's appeal and ordered a fresh hearing on the denial of an ₹1.1 crore deduction under Section 80P of the Income Tax Act. Section 80P provides deductions to co-operative societies on certain incomes. The ITAT's decision to restore the appeal suggests that the initial denial of the deduction by the tax authorities may have been flawed or required further examination. Ordering a fresh hearing ensures that the co-operative society gets another opportunity to present its case for claiming the deduction.