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2019 (1) TMI 1008 - AT - Income TaxEntitlement to deduction u/s. 80P(2) - Whether the interest income, commission from GDCS and processing fee are income from business or income from other sources? - Held that:- As decided in assessee's own case relying on NAWANSHAHAR CENTRAL CO-OPERATIVE BANK LTD. [2005 (8) TMI 28 - SUPREME COURT OF INDIA]can be applied to a Co-operative Society also where there is a claim of deduction u/s. 80P(2)(a)(i) of the Act. Considering all these aspects, we are of the opinion that the interest earned by the assessee could not have been treated under the head ‘income from other sources’ but only as a part of its business income. Cross Objection of the assessee is allowed.
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