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Co-Op Credit Society Eligible for 80P(2)(a)(i) Deduction on Total Income, Including Bank Interest: ITAT Mumbai

Case Law Details

Case Name
Maharashtra Mantralaya Shaskiy Karmachari Co-op Credit Society Ltd Vs ITO (ITAT Mumbai)
Date of Judgement/Order
Only available for paid members
Related Assessment Year
2018-19
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Maharashtra Mantralaya Shaskiy Karmachari Co-op Credit Society Ltd. Vs ITO (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT) Mumbai addressed an appeal filed by Maharashtra Mantralaya Shaskiy Karmachari Co-op Credit Society Ltd., contesting the disallowance of deductions under Section 80P(2)(a)(i) and 80P(2)(d) of the Income Tax Act, 1961. The assessee, a cooperative credit society providing credit facilities exclusively to its members, had claimed deductions for its income, which included interest on investments, dividends, and other receipts. The Assessing Officer (AO) disallowed a port...
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Author Info

CA Sandeep Kanoi
Qualification: CA in Job / Business
Company: Taxguru Consultancy
Location: Mumbai, Maharashtra
Articles Published: 17,295

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