Home Highlights September 2012 Year 2012 This

You may also like:

1. Deduction u/s 80P(2)(d) - Interest income earned by the Society comes with the category of income from other sources and Section 80P(2)(d) deals with the eligible...

2. Deduction u/s 80P(2)(a)(i) - The decision underscores the principle that interest income earned by co-operative societies, if invested in compliance with statutory...

3. Claim of deduction u/s 80P(2)(d) - interest income received from Co-operative Bank - In the present case even though the assessee’s claim of deduction under section...

4. Eligibility of Deduction u/s 80P - bank interest earned from cooperative banks - The Appellate Tribunal found that even if the interest income is not considered as...

5. Deduction u/s 80P(2)(d) - interest income - assessee society who has earned an amount from its investment of surplus fund deposited with co-operative banks is entitled...

6. Deduction u/s 80P(2)(a)(i) - assessee has shown interest income which was received from the non-members - There remains no ambiguity that income received by the assessee...

7. Deduction us/ 80P(2) - income received on investment made with co-operative banks - The Tribunal interpreted section 80P(2)(d) and (e) to determine the eligibility of...

8. Deduction claimed u/s. 80P(2)(a)(i) - Status showing as AOP and not mentioned as cooperative society - The Tribunal referred to the definition of "person" under section...

9. Deduction u/s 80P - interest income - The tribunal noted that section 80P(2)(a)(i) allows deduction for cooperative societies engaged in banking or providing credit...

10. Deduction u/s 80P2(a)(i) - Interest on fixed deposits - The Appellate Tribunal noted that the deductions available under Section 80P(2)(a) are activity-based, and the...

11. Deduction u/s 80P(2)(a) - return of income filed belatedly u/s 139(4) - The assessee has claimed deduction U/s 80P(2)(a)(i) on profits earned during the year and filed...

12. Deduction u/s. 80P(2)(a)(i) - Since the return of income has been filed after completion of the assessment, the return should have been held as invalid and hence the...

13. Assessee is entitled to deduction under section 80P(2)(c)(ii) of the Act in respect of business activities such as running of Ambulance, Health Club fee etc. which are...

14. Disallowance of deduction(s) u/s 80P - interest income from the investments made in co-operative/other bank(s) - The tribunal analyzed Sec. 80P(2)(d) and determined that...

15. Deduction u/s 80P(2)(a)(i) - the three conditions as provided under Section 5 (CVV) of the Banking Regulation Act, 1949, are to be satisfied cumulatively and except...