Deductibility for charitable donations affirmed where payments to approved relief funds, even if CSR-driven, qualify under the donation deduction sche...
Mis-declaration in import descriptions must be deliberate to justify confiscation; withheld contemporaneous import documents invalidate value redeterm...
Page of 4816
Press 'Enter' after typing page number.
5521 to 5540 of 96301 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Section 80P(2)(d) permits a co-operative society to claim deduction on interest or dividend earned from investments with another co-operative society, and a co-operative bank continues to fall within that expression for this purpose. Section 80P(4) withdraws the deduction only in the hands of the co-operative bank itself and does not change its character for section 80P(2)(d). Applying that construction, interest received by a co-operative housing society from deposits with co-operative banks was held deductible. The Tribunal found Totgars Co-operative Sale Society Ltd. inapplicable because it dealt with section 80P(2)(a)(i), and also noted consistent allowance in earlier years on the same facts.
Section 80P(2)(d) permits a co-operative society to claim deduction on interest or dividend earned from investments with another co-operative society, and a co-operative bank continues to fall within that expression for this purpose. Section 80P(4) withdraws the deduction only in the hands of the co-operative bank itself and does not change its character for section 80P(2)(d). Applying that construction, interest received by a co-operative housing society from deposits with co-operative banks was held deductible. The Tribunal found Totgars Co-operative Sale Society Ltd. inapplicable because it dealt with section 80P(2)(a)(i), and also noted consistent allowance in earlier years on the same facts.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4816 
Join Channel 
