Demonetisation Cash Addition Deleted Because Funds Belonged to Members

Sant Savta Gramin Bigar Seti Sahakari Pathasanstha Maryadit Vs Assessment Unit (ITAT Pune) Cash Belonging to Members Not Taxable in Society’s Hands; Bank Interest Also Eligible for Section 80P — ITAT Pune Allows Co-operative Society’s Appeal The Pune SMC Bench of the ITAT allowed the appeals of Shree Sant Savta Gramin Bigar Seti Sahakari Pathasanstha Maryadit for AYs 2017-18 and 2018-19, granting full relief on both major issues—addition of demonetisation cash deposits and denial of deduction under section 80P on bank interest. Key holdings of the Tribunal: Demonetisation cash deposit...