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Demonetisation Cash Addition Deleted Because Funds Belonged to Members
Case Law Details
- Case Name
- Sant Savta Gramin Bigar Seti Sahakari Pathasanstha Maryadit Vs Assessment Unit (ITAT Pune)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
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Sant Savta Gramin Bigar Seti Sahakari Pathasanstha Maryadit Vs Assessment Unit (ITAT Pune)
Cash Belonging to Members Not Taxable in Society’s Hands; Bank Interest Also Eligible for Section 80P — ITAT Pune Allows Co-operative Society’s Appeal
The Pune SMC Bench of the ITAT allowed the appeals of Shree Sant Savta Gramin Bigar Seti Sahakari Pathasanstha Maryadit for AYs 2017-18 and 2018-19, granting full relief on both major issues—addition of demonetisation cash deposits and denial of deduction under section 80P on bank interest.
Key holdings of the Tribunal:
Demonetisa...
Author Info
