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2010 (3) TMI 181 - HC - Income TaxDeduction u/s s 80(P) (2)(a)(i) - income earned from utilization of its reserve funds being statutory reserves u/s 67(2) of the Gujarat Cooperative Societies Act, 1961 - income earned from utilization of its voluntary reserves other than the statutory reserves – income earned from locker rent – Held that: following the decision in the matter of Commissioner of Income Tax v. Nawanshahar Central Co-operative Bank Ltd [2008 -TMI - 11702 - PUNJAB AND HARYANA High Court][SLP dismissed by the SC], in respect of income from statutory reserves eligible for deduction under Section 80P (2)(a)(i) of the Income Tax Act, 1961 – interest from locker rent is also eligible for deduction
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