Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2012 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (10) TMI 276 - AT - Income TaxClaim of 100% deduction u/s 80P from profits - The dispute was only with regard to the deposits which the appellant accepted from non-members. - Held that:- Acceptance of deposits from non-members on which the assessee bank was under obligation to pay interest does not, in any way, affect the revenue generated by the appellant in providing credit facilities and supply to the members – No income is generated by Society from funds received from non-members – Deduction is allowed – in favour of Assessee.
|