Deduction u/s 80P - Disallowance of deduction under section 80P ...

Income Tax

June 27, 2022

Deduction u/s 80P - Disallowance of deduction under section 80P of the Act in respect of “rental income” - where the assessee-bank derived the income in question from the house property and not from the banking business, the assessee could not be allowed deduction under section 80P of the Act in respect of the income derived by house property. - AT

View Source

← Previous Next →

Deduction u/s 80P - Disallowance of deduction under section 80P ...

Income Tax

June 27, 2022

You may also like:

Disallowance of deduction u/s 80P - Addition in respect of rental income earned and Income from sale of crackers - The Tribunal held that the deduction u/s 80P is...

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

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...

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...

Disallowance of Deduction u/s 80P(a)(i) - The assessee was admittedly not engaged in the banking activities and hence was not hit by the amendment by Finance Act, 2006 - AT

Deduction u/s 80P - Denying Section 80P deduction on parking of surplus funds in private banks and the interest received from the LIC deposits involving varying sums -...

Cooperative Banks, Renting income is eligible for deduction u/s 80P

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.

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...

Deduction u/s 80P(2)(a)(i) - Co-operative Bank - The question as to whether the business is derived from or attributable to SLR or non-SLR funds would not make any...

Quick Updates: