This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Co-op Society Eligible for Section 80P(2)(a)(i) Deduction on Interest from Statutory Reserves
Case Law Details
- Case Name
- CIT Vs Paschim Banga Gramin Bank (Calcutta High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2004-05
- Courts
- All High Courts, Calcutta High Court
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
CIT Vs Paschim Banga Gramin Bank (Calcutta High Court)
Introduction: In a significant ruling, the Calcutta High Court addressed the matter of co-operative societies and their eligibility for Section 80P(2)(a)(i) deduction concerning interest earned from funds utilized for statutory reserves. This case, titled “CIT Vs Paschim Banga Gramin Bank,” sheds light on an essential aspect of taxation for co-operative banks and societies in India.
Background: The case revolves around the interpretation of Section 80P(2)(a)(i) of the Income Tax Act, 1961. This section deals with deductions ava...
Author Info
