Just a moment...

Report
ReportReport
Welcome to TaxTMI

We're migrating from taxmanagementindia.com to taxtmi.com and wish to make this transition convenient for you. We welcome your feedback and suggestions. Please report any errors you encounter so we can address them promptly.

Bars
Logo TaxTMI
>
×

By creating an account you can:

Report an Error
Type of Error :
Please tell us about the error :
Min 15 characters0/2000
TMI Blog
Home /

2017 (5) TMI 538

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s. Vibhooti Malhotra, Adv. ORDER CM 4908/2017 (condonation of delay) in ITA 128/2017 CM 4909/2017 (condonation of delay) in ITA 129/2017 CM 4911/2017 (condonation of delay) in ITA 130/2017 CM 4913/2017 (condonation of delay) in ITA 131/2017 CM 4915/2017 (condonation of delay) in ITA 132/2017 CM 4917/2017 (condonation of delay) in ITA 133/2017 CM 4919/2017 (condonation of delay) in ITA 134/....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....is-a-vis the interest from commercial banks, the previous judgments of this Court in ITA No. 569/2013 and connected cases (Mantola Cooperative Thrift & Credit Society Ltd. vs CIT decided on 27.08.2014) could govern the issue. However, with respect to the treatment of interest the ITAT has held as follows: "...8. Applying the legal provision u/s 80P to the gross total income earned as enumerated ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Agricultural Co-operative Marketing Federation of India Ltd., decided on 03.05.2011), held that the assessee was eligible to deduction under Section 80P(2)(d) in respect of interest earned from investments made by the Society in other co-operative banks. In these circumstances, the ITAT's findings in this regard are unsustainable. The matter is remitted for appropriate tax treatment to the author....