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Section 80P Deduction Available on Interest Earned from Statutory Bank Deposits: ITAT Bangalore
Case Law Details
- Case Name
- Bhaskara Employees Credit Co-operative Society Ltd. Vs ITO (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Bangalore
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Bhaskara Employees Credit Co-operative Society Ltd. Vs ITO (ITAT Bangalore)
ITAT Bangalore Allows Deduction u/s 80P(2)(a)(i) on Interest from Statutory Investments – Section 80P to Be Interpreted Liberally –
ITAT Bangalore allowed the assessee’s appeal & directed AO to grant deduction of Rs.4,70,921/- u/s 80P(2)(a)(i) on interest earned from statutory investments
Assessee, a credit co-operative society of ISRO employees registered under the Karnataka Co-operative Societies Act, filed return declaring Nil income after claiming deduction of Rs.34,06,263/- u/s 80P. AO d...
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