Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2009 (5) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2009 (5) TMI 62 - HC - Income TaxInterest on investment of unutilized funds – co-operative societies – ITAT hold that the interest earned by the assessee-co-operative society (engaged in agricultural credit facility), from unutilized funds invested in the banks other than the co-operative bank, as fixed deposit receipts, and Kisan Vikas Patra with post offices, is liable to be deducted under section 80P of the Income-tax Act, 1961 – Held that deduction is allowed u/s 80P – order of ITAT upheld – decided in favor of assessee.
|