Deduction u/s. 80P(2)(d) - appellant had not incurred any ...

Deduction Allowed for Dividends and Interest from Cooperative Investments u/s 80P(2)(d) of Income Tax Act.

September 6, 2013

Case Laws Income Tax AT

Deduction u/s. 80P(2)(d) - appellant had not incurred any expenditure on the earning of the dividend and interest from other co-operative society as this investment was made long back. No new investment had been made - deduction u/s 80P(2)(d) allowed - AT

View Source

← Previous Next →

Deduction u/s. 80P(2)(d) - appellant had not incurred any ...

Deduction Allowed for Dividends and Interest from Cooperative Investments u/s 80P(2)(d) of Income Tax Act.

September 6, 2013

Case Laws Income Tax AT

You may also like:

Deductibility of interest income from investments u/s 80P(2)(a)(i) of the Income Tax Act for a primary agricultural credit cooperative society. The key points are: The...

Deduction u/s 80P - deduction of income earned as interest/dividend from co-operative bank is allowable. Section 80P(2)(d) reflects that if income by way of interest or...

Disallowance of deduction claimed u/s 80P - interest and dividends received from investments made with DCCB - The appellate tribunal, in its detailed analysis, upheld...

Interest income earned by a co-operative society formed and managed by the Government, in its regular course of operations, forms part of revenue attributable to...

Deduction u/s 80P(2)(d) - Interest income earned by the Society comes with the category of income from other sources and Section 80P(2)(d) deals with the eligible...

The ITAT denied deduction under Sec. 80P(2)(a)(i) to a cooperative society acting as a cooperative bank. However, citing precedents, it allowed deduction for interest...

Interest income earned by a cooperative society from deposits made with another cooperative bank is eligible for deduction u/s 80P(2)(d) of the Income Tax Act. The...

Deduction us/ 80P(2) - income received on investment made with co-operative banks - The Tribunal interpreted section 80P(2)(d) and (e) to determine the eligibility of...

The ITAT Chandigarh dealt with a case involving revision u/s 263 on interest income from fixed deposits. The tribunal held that AO correctly allowed deduction u/s 80P,...

Eligibility of Deduction u/s 80P - bank interest earned from cooperative banks - The Appellate Tribunal found that even if the interest income is not considered as...

Co-operative bank registered under state Act, main objective providing credit facility to members who are employees, funds contributed by members given as loans on...

Disallowance of deduction(s) u/s 80P - interest income from the investments made in co-operative/other bank(s) - The tribunal analyzed Sec. 80P(2)(d) and determined that...

Deduction u/s 80P(2)(a)(i) was denied by the Assessing Officer on grounds that the assessee society cannot be termed a mutual concern and principles of mutuality cannot...

Deduction claimed u/s. 80P(2)(a)(i) - Status showing as AOP and not mentioned as cooperative society - The Tribunal referred to the definition of "person" under section...

Deduction u/s 80P(2)(a)(i) - The decision underscores the principle that interest income earned by co-operative societies, if invested in compliance with statutory...

Quick Updates: