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Latest Posts in ITAT Bangalore

Late Form 67 filing doesn’t invalidate foreign tax credit claim

June 27, 2024 324 Views 0 comment Print

Explore the detailed analysis of Vinodkumar Lakshmipathi appeal against CIT(A) NFAC regarding foreign tax credit disallowance for AY 2018-19. Understand the implications and legal nuances.

Income Tax Addition cannot Be based Solely on unsubstantiated Loose Slips

June 25, 2024 465 Views 0 comment Print

The ITAT Bangalore ruled that income tax additions can’t be based solely on unsubstantiated loose slips, emphasizing the need for corroborative material evidence.

Investment with co-operative bank eligible for Section 80P(2)(d) deduction  

June 21, 2024 534 Views 0 comment Print

Explore the ITAT Bangalore ruling on Raythara Sahakari Sangha Ltd. vs. ITO, addressing the eligibility for deduction under Section 80P(2)(d) of the Income Tax Act.

ITAT allows section 80P(2)(d) deduction for interest income earned from cooperative banks

June 21, 2024 81 Views 0 comment Print

Discover the key rulings in the ITAT Bangalore’s judgment on Totgars’ Co-operative Sale Society Ltd. vs ACIT for the assessment years 2015-2018, focusing on section 80P(2)(d) deductions.

Section 80P(2)(d) deduction on interest/dividend income out of investments with co-op society

June 20, 2024 510 Views 0 comment Print

ITAT Bangalore rules on Tumkur City Credit Society vs ITO, confirming eligibility for deduction u/s 80P(2)(d) of the Income Tax Act. Case remitted to AO for review.

Interest from SBI Investments Ineligible for Section 80P(2)(a)(i) Deduction

June 16, 2024 501 Views 0 comment Print

ITAT Bangalore rules interest income from SBI investments not eligible for deduction under Section 80P. Full analysis of Farmers Coop Society vs ITO case.

Section 80P(2)(d) deduction not eligible on Interest Income from KDCC Bank

June 16, 2024 591 Views 0 comment Print

Read the detailed analysis of Laxminarayana Suvarna Credit Co-operative Society Ltd. Vs ITO (ITAT Bangalore) on the eligibility of interest income from KDCC Bank for deduction under Section 80P(2)(a)(i) of the Income Tax Act.

Co-op society providing credit facilities to members is entitled to Section 80P(2)(a)(i) deduction

June 15, 2024 372 Views 0 comment Print

Kotekar Vyavasaya Seva Sahakara Vs ACIT (ITAT Bangalore) Co-operative societies providing credit facilities to its members is entitled to deduction u/s 80P(2)(a)(i) of Income Tax Act.

Section 80P(2)(d) deduction on interest/dividend income out of investments with co-op society

June 15, 2024 435 Views 0 comment Print

Learn about the ITAT Bangalore ruling allowing deduction claims for interest earned from credit facilities extended to members by Chokkadi Vyavasaya Seva Sahakari Bank.

Income from E-Stamping Ineligible for Section 80P(2) Deduction

June 14, 2024 768 Views 0 comment Print

Detailed analysis of Karnataka State Co-operative Agriculture and Rural Development Bank Ltd. vs. ITO case. Interest/Dividend income from co-operative society investments eligible for deduction u/s 80P(2) of the Income Tax Act.

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