GST payment representations require record-based, reasoned decisions while substantive entitlement remains open for determination by competent authori...
Reassessment sanction under extended limitation required approval from the competent specified authority, invalidating proceedings approved by an inco...
Internal CUP benchmarking for fixed-rate Masala Bonds prevails over floating external comparables, eliminating the related transfer-pricing adjustment...
Jurisdictional validity of revision notices: incorrect official capacity and mere change of opinion invalidate revision of property income assessments...
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 4888 
