Revisional power in block assessment upheld, undisclosed search income sustained, freight suppression addition restored, accrued lorry hire liability ...
Reassessment and fee-for-technical-services classification: reopening upheld, but certain reimbursements and mobilization charges fell outside treaty ...
Page of 4807
Press 'Enter' after typing page number.
4401 to 4420 of 96140 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
A co-operative credit society carrying on borrowing and lending only with members was entitled to deduction under section 80P(2)(a)(i) because no dealings with non-members were shown, and section 80P remains a benevolent provision available to societies providing credit facilities to members. The interest income was also held to be profits attributable to that credit business and therefore deductible under section 80P(2)(a)(i). Authorities dealing with section 80P(2)(d) were held inapplicable because they concerned a different statutory question. The Revenue's challenge was rejected.
A co-operative credit society carrying on borrowing and lending only with members was entitled to deduction under section 80P(2)(a)(i) because no dealings with non-members were shown, and section 80P remains a benevolent provision available to societies providing credit facilities to members. The interest income was also held to be profits attributable to that credit business and therefore deductible under section 80P(2)(a)(i). Authorities dealing with section 80P(2)(d) were held inapplicable because they concerned a different statutory question. The Revenue's challenge was rejected.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
