Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
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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