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.
Ex-parte order quashed & restored back to AO. Illiterate and agriculturist assessee’s appeal considered. Detailed analysis of the case.
ITAT Bangalore rules in favor of Sullia Taluk Women’s Cooperative Society Ltd, allowing 80P(2)(a)(i) deduction for interest from member loans, including nominal members.
ITAT Bangalore dismisses valuation of bonus shares under Income Tax Act sec. 55(2)(aa)B. Detailed analysis of Zash Traders vs ACIT case. Read full order.
Discover the ITAT Bangalore ruling on IBM Canada Limited vs. DCIT, where salary reimbursements of seconded employees were deemed non-taxable as fees for technical services.
Read the detailed analysis of Late Lodaya Navalbai Vs ITO case by ITAT Bangalore. Learn why the reassessment proceedings were quashed and its implications.
ITAT Bangalore ruled that payments received by a non-resident from an Indian company for interconnect utility charges cannot be taxed as royalty under section 9(1)(vi) of the Income Tax Act in the absence of a DTAA.
Read the detailed analysis of Smt. Kopparum Laxminarayan Kumuda vs ITO case by ITAT Bangalore. Learn why cash deposits were taxed at 8%.
Read the detailed order by ITAT Bangalore regarding Samaja Seva Mandali vs. ITO. Assessing real intentions of trust in land purchase for school building construction.
Section 54F amendment restricting exemption to one residential house was prospective, applying only from April 1, 2015 and Violation of section 269SS of the IT Act, if any, would call for a separate penalty under section 271D, not an addition under section 68.
