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Income Tax - Highlights / Catch Notes

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Eligibility for the benefits of u/s 80P(2)(a)(i) - it is a ...

Income Tax

August 19, 2017

Eligibility for the benefits of u/s 80P(2)(a)(i) - it is a complete misnomer on the part of the Assessing Officer to treat the assessee as a co-operative bank within the meaning of Sec. 80P(4) of the Act without establishing that the assessee is a co-operative bank in the eyes of law.

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  5. Interest on Non SLR investments/CTR - cooperative banks who are carrying on banking business are entitled for deduction under Section 80P(2)(a)(i) of the Act - HC

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  9. Eligibility for cenvat credit on spare parts - the component parts of the Ventra locomotives would have to be treated as inputs eligible for cenvat credit - AT

  10. Denial of deduction claimed u/s 80P (2)(d) - AO disallowed the benefit by invoking the provision of section 154 for rectification of mistake change of opinion - interest...

 

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