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Income of co-operative bank from investment in PSEB bonds is deductible under section 80P
Case Law Details
- Case Name
- Commissioner of Income-tax Vs Nawanshahar Central Co-operative Bank Ltd. (Punjab and Hariyana High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Punjab and Haryana HC
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PUNJAB AND HARYANA HIGH COURT
Commissioner of Income-tax
v/s.
Nawanshahar Central Co-operative Bank Ltd.
N.K. SUD AND N.K. SODHI, JJ
IT APPEAL NOS. 154 AND 155 OF 2002
JANUARY 6,2003
JUDGMENT
N.K. Sud, J.
This order shall dispose of two Income-tax Appeal Nos. 154 and 155 of 2002 involving common questions of law and facts. For the sake of convenience, the facts are being taken from Income-tax Appeal No. 155 of 2002 pertaining to the assessment year 1994-95.
2. The assessee is a co-operative bank engaged in the banking business. It is registered with the Registrar of Firms ...
