Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights October 2016 Year 2016 This

Eligibility of deduction u/s.80P(2)(a)(i) - when there were no ...

Income Tax

October 21, 2016

Eligibility of deduction u/s.80P(2)(a)(i) - when there were no takers for the money, which assessee as a part of its objects wanted to lend, the only available choice for assessee, in order not to keep the funds idle, was to place it in banks for earning interest - deduction allowed - AT

View Source

 


 

You may also like:

  1. Denial of deduction u/s.80P - the amount which is in the nature of profits and gains, was not immediately required by the assessee for lending money to the members, as...

  2. Deduction u/s 80P (2)(d) - whether provision of section 14A are applicable to the deductions u/s 80P(2)(d) - Held yes - HC

  3. Deduction u/s 80P(2)(a)(i) - assessee has shown interest income which was received from the non-members - There remains no ambiguity that income received by the assessee...

  4. 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...

  5. Grant of deduction u/s 80P(2)(d) - if such deduction is not claimed in computation of income, then no disallowance be made to the total income of the assessee.

  6. Deduction u/s.80P(2)(a)(i) - Assessee is entitled for deduction of interest income derived from investment of surplus funds with banks also.- AT

  7. Deduction u/s 80P of the Act - the expression “the amount of profits and gains“ used in sub-section (2) of section 80P cannot be understood in a different sense - HC

  8. Eligibility for deduction u/s 80P - assessee to invest 25% of its profits in the reserve funds, which in turn, are parked in FDRs with Bank of Maharashtra - assessee is...

  9. Deduction u/s 80P - interest income - The tribunal noted that section 80P(2)(a)(i) allows deduction for cooperative societies engaged in banking or providing credit...

  10. Claim of deduction u/s 80P(2)(d) - interest income received from Co-operative Bank - In the present case even though the assessee’s claim of deduction under section...

 

Quick Updates:Latest Updates