Deduction u/s.80P - collective disposal of labour of its members ...

Case Laws Income Tax

January 18, 2016

Deduction u/s.80P - collective disposal of labour of its members - The assessee Cooperative society has got some work order from Praj Industries Ltd. which it had outsourced to some other concern on the condition of earning 1% commission. There is no involvement of the members of the cooperative society at all in executing the work. - Deduction not allowed - AT

View Source

← Previous Next →

Deduction u/s.80P - collective disposal of labour of its members ...

Case Laws Income Tax

January 18, 2016

You may also like:

Deduction u/s 80P(2)(a)(vi) - toddy tapping - assessees cannot be considered as Co-operative societies engaged in the collective disposal of labour of its members as...

Deduction of claim u/s. 80P(2)(a)(i) - claim denied on interest - The Assessee being a Primary Agriculture Credit Society is a Co-operative Society. The primary object...

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...

This is a summary of a tax case dealing with the deduction u/s 80P(2)(vi) of the Income Tax Act for income earned by cooperative societies from the collective disposal...

Benefit of deduction under section 80P(2)(a)(vi) denied - income of the society has nothing to do with the collective disposal of the labour of its members, but is...

Co-operative bank registered under state Act, main objective providing credit facility to members who are employees, funds contributed by members given as loans on...

Deduction u/s 80P(2)(a)(i) - assessee is a co-operative credit society having “A” class Members as well as “B” class Members as its society’s Members - mutuality -...

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...

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...

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...

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...

Eligibility of Deduction u/s 80P - bank interest earned from cooperative banks - The Appellate Tribunal found that even if the interest income is not considered as...

Deduction u/s 80P - interest income - The tribunal noted that section 80P(2)(a)(i) allows deduction for cooperative societies engaged in banking or providing credit...

Deduction u/s 80P(2)(d) was denied through intimation u/s 143(1) on interest income earned by the assessee from cooperative banks. The Tribunal held that neither the...

Deduction u/s 80P(2)(i) - the assessee is not a recognized bank as per the provision of RBI and there is a difference between the Co-operative bank and in the Credit...

Quick Updates: