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2015 (2) TMI 1177 - AT - Income TaxAddition of interest income received on the short-term deposits out of the surplus fund with PSU Banks - non eligible for deduction under section 80P(2)(a)(i ) - Held that:- It is an accepted fact that the said PSU Banks are not the members of the assessee-Society and consequently the interest income cannot also be attributable to the activities of the Society of carrying on the business of providing credit facility to the members. Consequently in view of the decision of the Hon’ble Supreme Court in the case of Totgar Cooperative Sale Society Limited [2010 (2) TMI 3 - SUPREME COURT ], the enhancement as made by the ld. CIT(Appeals) is on the right footing and does not call for any interference. - Decided against assessee.
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