Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Interest earned by a co-operative housing society on fixed deposits with co-operative banks qualifies for deduction under section 80P(2)(d), provided the investment is with another co-operative society. A co-operative bank registered under applicable co-operative societies law remains a co-operative society for that purpose. Section 80P(4) restricts deductions claimed by co-operative banks themselves and does not limit the deduction available to an investing co-operative society. This interpretation is consistent with the liberal construction of beneficial provisions and Tribunal decisions applying the principle. The disallowance of the claimed deduction was deleted.
Interest earned by a co-operative housing society on fixed deposits with co-operative banks qualifies for deduction under section 80P(2)(d), provided the investment is with another co-operative society. A co-operative bank registered under applicable co-operative societies law remains a co-operative society for that purpose. Section 80P(4) restricts deductions claimed by co-operative banks themselves and does not limit the deduction available to an investing co-operative society. This interpretation is consistent with the liberal construction of beneficial provisions and Tribunal decisions applying the principle. The disallowance of the claimed deduction was deleted.
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