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2021 (9) TMI 924 - AT - Income TaxDeduction u/s 80P(2)(a) - income is attributable to the dealing with regular members and nominal members - HELD THAT:- The Division Bench of the Tribunal in the case of M/s.Ravindra Multipurpose Co-operative Society Limited [2021 (9) TMI 342 - ITAT BANGALORE] had remanded the identical issue to the files of the A.O. for de novo consideration - As restore the issue of claim of deduction u/s 80P of the I.T.Act to the files of the A.O. for de novo consideration. Deduction u/s 80P(2)(d) - assessee has violated the principle of mutuality - If the assessee receives interest / dividend income out of investments earned with co-operative society, the same is entitled to deduction u/s 80P(2)(d) of the I.T.Act. With these observations, we direct the A.O. to examine the claim of deduction u/s 80P(2)(d) of the I.T.Act, afresh.
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