This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Sec 80P Deduction available to Co-Bank for Interest on Investments with Sub-Treasuries during its Business
Case Law Details
- Case Name
- ITO Vs M/s. Perinthalmanna Service Co-operative Bank Limited (ITAT Cochin)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All ITAT, ITAT Cochin
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
ITO Vs M/s. Perinthalmanna Service Co-operative Bank Limited (ITAT Cochin)
The Assessing Officer in the impugned orders had disallowed the claim stating that the assessee could not be treated as a primary agricultural credit society as it is engaged in the business of banking and in view of insertion of section 80P(4) with effect from 01.04.2007, the assessee was not entitled to deduction u/s 80P(2) of the I.T.Act.
Held by ITAT
The latest judgment of the Hon’ble Telangana & Andhra Pradesh High Court in the case of Vaveru Co-operative Rural Bank Ltd. v CIT [(2017) 396 ITR 371 had also ...
