Case Law Details
Karnataka State Co-operative Agriculture and Rural Development Bank Ltd. Vs ITO (ITAT Bangalore)
The case of Karnataka State Co-operative Agriculture and Rural Development Bank Ltd. vs. ITO (ITAT Bangalore) revolves around the interpretation and application of Section 80P(2)(a)(i) of the Income Tax Act, 1961, specifically regarding the eligibility of income earned from e-stamping services for deduction under this provision.
Background and Facts
The appellant, Karnataka State Co-operative Agriculture and Rural Development Bank Ltd., engaged in various financial and cooperative activities, including providing e-stamping services. The issue at hand pertained to whether income generated from e-stamping services could be considered eligible for deduction under Section 80P(2)(a)(i) of the Income Tax Act.
Arguments Presented
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