Denial of deduction u/s.80P - the amount which is in the nature ...

Interest Income from Bank Deposits Eligible for Deduction u/s 80P(1) Due to Lack of Lending Demand.

September 12, 2015

Case Laws Income Tax AT

Denial of deduction u/s.80P - the amount which is in the nature of profits and gains, was not immediately required by the assessee for lending money to the members, as there were no takers. Therefore they had deposited the money in a bank so as to earn interest - it is liable to be deducted u/s 80P(1) - AT

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Denial of deduction u/s.80P - the amount which is in the nature ...

Interest Income from Bank Deposits Eligible for Deduction u/s 80P(1) Due to Lack of Lending Demand.

September 12, 2015

Case Laws Income Tax AT

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