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2005 (12) TMI 76 - HC - Income TaxExemption under section 80P(2)(a)(i) - object for which the assessee has been created, which is a sugar mill, and the object clause or/and the business activities of the assessee mill as stated at (x) of page No. 33 of the typed set of papers is also granting loans and advances to the members at such rates as may be prescribed by the Committee - Tribunal was right in law in holding that the assessee is entitled to exemption under section 80P(2)(a)(i) of the Income-tax Act in respect of interest received from the members of the society - Tribunal is right in law in holding that the incentive subsidy received by the assessee is a capital receipt and cannot be included in the total income
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