Income-tax prosecution fails when appellate remand removes its factual foundation; directors require company arraignment for vicarious criminal liabil...
Capital character of assignment consideration prevents taxation as residuary income, while unsupported interest-related expenditure remains non-deduct...
Make-available condition shields regional support-service receipts from Indian taxation where no independent capability or permanent establishment exi...
Transfer-pricing treatment of corporate guarantees and convertible loans followed prior-year consistency, with taxable foreign dividends excluded from...
Transfer-pricing benchmarking confines adjustments to associated-enterprise transactions and integrates delayed receivables through TNMM working-capit...
Medical relief status protects government-contracted mobile healthcare from commercial classification, while provisional registration cancellation req...
Charitable registration cancellation requires proof that educational activities abandoned their objects; incidental receipts and retained surplus are ...
Interest and dividend earned by a co-operative society from deposits or investments with a co-operative bank qualify for deduction under section 80P(2)(d). A co-operative bank registered under co-operative societies law retains its character as a co-operative society for this purpose. Section 80P(4) excludes a co-operative bank from claiming deduction on its own income, but does not bar another co-operative society from claiming deduction on income derived from investments with that bank. The deduction applies to interest and dividends from the co-operative bank; expense-allocation grounds were not pressed.
Interest and dividend earned by a co-operative society from deposits or investments with a co-operative bank qualify for deduction under section 80P(2)(d). A co-operative bank registered under co-operative societies law retains its character as a co-operative society for this purpose. Section 80P(4) excludes a co-operative bank from claiming deduction on its own income, but does not bar another co-operative society from claiming deduction on income derived from investments with that bank. The deduction applies to interest and dividends from the co-operative bank; expense-allocation grounds were not pressed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4884 
