Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights December 2014 Year 2014 This

Co-operative society claiming exemption - Effect on Notification ...


Cooperative Society's Income Tax Exemption Challenged Under New Act; Sections 80P and 80T Now Apply.

December 22, 2014

Case Laws     Income Tax     HC

Co-operative society claiming exemption - Effect on Notification issued under old act, on the enactment of new Act – under the new Act, the notification issued under the earlier Act stood repealed and the present case will be governed by Sections 80P and 80T of the Act - HC

View Source

 


 

You may also like:

  1. Deductibility of interest income from investments u/s 80P(2)(a)(i) of the Income Tax Act for a primary agricultural credit cooperative society. The key points are: The...

  2. Deduction u/s 80P(2)(d) - Interest income earned by the Society comes with the category of income from other sources and Section 80P(2)(d) deals with the eligible...

  3. Deduction u/s 80P(2)(a)(i) was denied by the Assessing Officer on grounds that the assessee society cannot be termed a mutual concern and principles of mutuality cannot...

  4. Interest income earned by a cooperative society from deposits made with another cooperative bank is eligible for deduction u/s 80P(2)(d) of the Income Tax Act. The...

  5. Deduction claimed u/s. 80P(2)(a)(i) - Status showing as AOP and not mentioned as cooperative society - The Tribunal referred to the definition of "person" under section...

  6. HC ruled that Section 194N of the Income Tax Act, 1961 applies comprehensively to cooperative banking societies, rejecting the petitioner's claim for exemption under...

  7. Deduction u/s 80P - deduction of income earned as interest/dividend from co-operative bank is allowable. Section 80P(2)(d) reflects that if income by way of interest or...

  8. Revision u/s 263 - Deduction u/s 80P(2)(a)(i) - interest income was received by the assessee on deposits - section 80P(2)(d) of the Act specifically exempts interest...

  9. Interest income earned by a co-operative society formed and managed by the Government, in its regular course of operations, forms part of revenue attributable to...

  10. Disallowance of deduction(s) u/s 80P - interest income from the investments made in co-operative/other bank(s) - The tribunal analyzed Sec. 80P(2)(d) and determined that...

  11. The Appellate Tribunal held that income earned from investments in cooperative banks, which are not cooperative societies, is not eligible for deduction u/s 80P(2)(d) of...

  12. The case involves a dispute regarding the deduction claim u/s 80P of the Income Tax Act by a cooperative society based on Notification No. SRO 1800 issued under the...

  13. The High Court upheld the Tribunal's decision allowing deduction u/s 80P(2)(d) of the Income Tax Act to the assessee, a cooperative society, on the interest income...

  14. The ITAT Chandigarh dealt with a case involving revision u/s 263 on interest income from fixed deposits. The tribunal held that AO correctly allowed deduction u/s 80P,...

  15. Denial of deduction claimed u/s 80P (2)(d) - AO disallowed the benefit by invoking the provision of section 154 for rectification of mistake change of opinion - interest...

 

Quick Updates:Latest Updates