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Section 80P(2)(d) Deduction Ineligibility for Co-op Societies on Interest Income from Investments with Co-Op Bank
Case Law Details
- Case Name
- PCIT Vs Totagars Co-Operative Sale Society (Karnataka High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Karnataka High Court
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PCIT Vs Totagars Co-Operative Sale Society (Karnataka High Court)
Section 80P(2)(d) deduction not eligible to co-operative societies on interest income earned from investments with another co-operative bank
The Karnataka High Court’s ruling in the case of PCIT Vs Totagars Co-Operative Sale Society centers on whether a cooperative society can claim a deduction under Section 80P(2)(d) of the Income Tax Act for interest income earned from investments with another cooperative bank. Here is a detailed summary of the case and the court’s findings:
Background
The respondent,...
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