Case Law Details
Case Name : Nimshaskiya Madhyanik Shaley Karamchari Sahakari Sanstha Ltd Vs ITO (ITAT Nagar)
Related Assessment Year : 2017-18
Courts :
All ITAT ITAT Nagpur
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Sponsored
Nimshaskiya Madhyanik Shaley Karamchari Sahakari Sanstha Ltd Vs ITO (ITAT Nagar)
Conclusion: Interest income from bank deposits is eligible for deduction under Section 80P(2)(a)(i) as the funds in the voluntary reserves which were utilized for investment by the co-operative banks were the funds generated from the banking business.
Held: Assessee-a cooperative society of teaching and non-teaching employees of Maharashtra Government Middle Schools, contested an order from CIT (Appeals), which disallowed a deduction of ₹3,27,687 claimed for
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Sponsored
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.