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2013 (1) TMI 571 - HC - Income TaxDeduction u/s 80-P (2) (a) (i) - interest received from non-members - revenue contested against Tribunal in allowing the deduction as clause 41 of the bye laws of the society clearly mentioned that loans and advances be given to women members only - Held that:- As decided in CIT, Muzaffarnagar Versus Muzaffarnagar District Co-Operative Bank Ltd. [2012 (12) TMI 493 - ALLAHABAD HIGH COURT] & Commissioner Of Income Tax, Ghaziabad Vs. M/s Ghaziabad Zila Sahkari Bank, Ghaziabad [2013 (1) TMI 553 - ALLAHABAD HIGH COURT] & [2013 (1) TMI 552 - ALLAHABAD HIGH COURT] that the income arising out of banking activities by Cooperative Bank is exempted under Section 80P (2) (a) (i) - in favour of assessee.
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