Corporate Law : Learn about the characteristics, types, and tax implications of cooperative societies in India, including deductions under Section...
Income Tax : Explore Circular 13/2023 on Income Tax condoning delays for returns claiming 80P deduction from AY 2018-19 to AY 2022-23. Understa...
Income Tax : TDS on Cash Withdrawals - Section 194N of Income Tax Act, 1961: Section 194N provides that every banking company, cooperative bank...
Income Tax : Understand the tax implications of interest on securities and income from house property for co-operative societies. Learn about S...
Income Tax : Section 80P: Deduction in respect of Income of Co-operative Societies In case of all co-operative societies, except co-operative b...
Income Tax : The anomalous position may be rectified by making suitable amendment in section 2(19) defining a Co-operative Society, by includin...
Income Tax : ITAT Cochin confirms 80P deduction for Kerala University Employees Co-op Society on interest income from co-op banks, SBI, and tre...
Income Tax : Kerala High Court quashes IT assessment for Poonjar Service Co-operative Bank and directs reassessment following Supreme Court’s...
Income Tax : Janata Grahak Madhyawarti Vs PCIT-4 (ITAT Pune) Facts of the Case: The assessee, a co-operative society involved in the business ...
Income Tax : ITAT allows co-operative society's appeal for 80P(2)(a)(i) exemption, stating registration under Co-operative Societies Act prevai...
Income Tax : ITAT Pune permits deduction of Rs. 35 lakhs under Section 80P(2)(d) for interest income from cooperative banks in Jankalyan case....
Income Tax : CBDT issues Circular No. 14/2024 allowing condonation of delay in filing tax returns for AY 2023-24 under Section 80P, benefiting ...
Income Tax : Circular No. 13/2023-Income Tax: The government allows condonation of delay for filing returns of income claiming deduction u/s 80...
Income Tax : Circular No. 6/2010-Income Tax 2.As Regional Rural banks (RRB) are basically corporate entities (and not cooperative societies, t...
ITAT Mumbai ruled in favor of Borivali Jankalyan Sahakari Patpedhi Ltd., allowing deduction under Section 80P for interest income from co-operative banks.
ITAT Mumbai upheld the disallowance of deductions claimed by Navbharat Urban Co-operative Credit Society under Section 80P(2)(d), treating income as taxable.
ITAT Bangalore remands case on interest income deduction u/s 80P(2)(a)(i) to AO, citing legal precedents. Tribunal finds errors in assessment and CIT(A) order.
In the matter abovementioned ITAT Banglore held that interest earned by the assessee from the co-operative banks/commercial bank is considered under the head income from other sources, relief to be granted to the assessee u/s 57 in accordance with law.
ITAT Mumbai rules in favor of Sterling Court CHS, allowing Section 80P(2)(d) deduction on interest from cooperative banks. Read the full case summary.
ITAT Mumbai ruled in favor of Dheeraj Gaurav Heights-1 Co-op Housing Society, allowing a deduction under Section 80P(2)(d) on interest income from cooperative banks.
ITAT Mumbai ruled in favor of Blue Rose Industrial Premises Co-op. Society Ltd., allowing deduction on interest income from co-operative banks under Section 80P(2)(d).
ITAT Mumbai rules in favor of Hilla Heights Co-op, allowing deduction under Section 80P(2)(d) for interest income from co-op banks. Case law analysis included.
ITAT Lucknow held that delay of 4 days erroneously calculated as delay of 551 days by CIT(A). Accordingly, directed CIT(A) to consider request of condonation and if found appropriate to grant opportunity of being heard.
ITAT Mumbai rules that cooperative societies can claim deductions under Section 80P(2)(d) for interest earned from cooperative banks, overturning prior disallowance.