Deduction u/s 80P - Denying Section 80P deduction on parking of ...

Case Laws Income Tax

June 5, 2021

Deduction u/s 80P - Denying Section 80P deduction on parking of surplus funds in private banks and the interest received from the LIC deposits involving varying sums - We find no merit in the assessee's stand since their lordships said decision applies in an instance of section 80P deduction on interest income derived from nationalised banks only. - AT

View Source

← Previous Next →

Deduction u/s 80P - Denying Section 80P deduction on parking of ...

Case Laws Income Tax

June 5, 2021

You may also like:

Deduction u/s 80P - interest income received from parking its surplus funds with Co-operative Bank - interest would be eligible for claim of deduction under section...

Deduction u/s 80P(2) on interest income - To invest the deposits accepted from the members or the surplus funds available with it, is part of the banking/credit business...

Deduction u/s 80P(2)(a) is allowed for a cooperative society earning interest and dividend income from deposits with a Delhi State Cooperative Bank registered under the...

The ITAT denied deduction under Sec. 80P(2)(a)(i) to a cooperative society acting as a cooperative bank. However, citing precedents, it allowed deduction for interest...

Investment of surplus fund by a coop society, no deduction u/s 80P – Supreme Court

Deduction u/s.80P(2)(a)(i) - Assessee is entitled for deduction of interest income derived from investment of surplus funds with banks also.- AT

Deduction u/s 80P(2)(d) - interest income - assessee society who has earned an amount from its investment of surplus fund deposited with co-operative banks is entitled...

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...

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...

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 - CIT(A) has allocated the whole of the interest expenditure over the interest on FDRs and to the extent of interest attributable to FDRs placed with...

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...

Eligibility for deduction u/s 80P - assessee to invest 25% of its profits in the reserve funds, which in turn, are parked in FDRs with Bank of Maharashtra - assessee is...

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...

Allowability of deduction u/s 80P(2)(d) for interest income from deposits/investments in a cooperative bank by a cooperative society. The assessee, a cooperative society...

Quick Updates: