Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Assessee entitled to deduction u/s 80P(2)(a)(i) on income attributable to regular members as per Mavilayi Service Cooperative Bank Ltd. case. AO to examine bye-laws regarding classification of members, their rights, and profit sharing. Deduction u/s 80P(2)(d) on interest from cooperative banks disallowed if payer qualifies as cooperative bank under KSCARDB case. Expenditure u/s 57 towards earning interest income allowed after determining cost of funds as per Totgars' Cooperative Sales Society Ltd. and West Coast Paper Mill Employees Souharda Credit Co-op. Ltd. cases. Issues remanded to AO for verification. Appeal partly allowed for statistical purposes.
Assessee entitled to deduction u/s 80P(2)(a)(i) on income attributable to regular members as per Mavilayi Service Cooperative Bank Ltd. case. AO to examine bye-laws regarding classification of members, their rights, and profit sharing. Deduction u/s 80P(2)(d) on interest from cooperative banks disallowed if payer qualifies as cooperative bank under KSCARDB case. Expenditure u/s 57 towards earning interest income allowed after determining cost of funds as per Totgars' Cooperative Sales Society Ltd. and West Coast Paper Mill Employees Souharda Credit Co-op. Ltd. cases. Issues remanded to AO for verification. Appeal partly allowed for statistical purposes.
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