Deduction U/s. 80P(2)(a) allowable to Co-Op. banks on Commission on collection of electricity bills & prepayment facility: HC

Brief of the Case

Bombay High court held In the case of CIT vs. Amravati District Central Cooperative Bank Ltd. that following the judgment of (2003) 264 ITR (38) (Bom.) (CIT vs. Ahmednagar District Central Cooperative Bank Ltd.) , commission earned by the Co-operative banks for collecting the electricity dues from the customers and commission earned for extending prepayment facility to the farmers under a state govt. scheme are qualify for deduction u/s 80P(2)(a).

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