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Section 80P(2)(a)(i) deduction on Interest Income on Investments out of Reserve Fund
Case Law Details
- Case Name
- ONGC Employees Co-op Credit & Thrift Society Limited Vs ITO (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-2018
- Courts
- All ITAT, ITAT Ahmedabad
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ONGC Employees Co-op Credit & Thrift Society Limited Vs ITO (ITAT Ahmedabad)
The case of ONGC Employees Co-op Credit & Thrift Society Limited Vs ITO before the Income Tax Appellate Tribunal (ITAT) Ahmedabad involves the question of exemption of interest income derived from investments made out of a Reserve Fund under section 80P(2)(a)(i) of the Income Tax Act. The appellant, a Co-operative Credit Society, challenged the decision of the Commissioner of Income Tax (Appeals) (CIT(A)), who disallowed a deduction claimed under section 80P and denied the claim of proportiona...
