Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
Deduction u/s 80P - deduction of income earned as interest/dividend from co-operative bank is allowable. Section 80P(2)(d) reflects that if income by way of interest or dividend is derived by the Co-operative Society from its investment with any other Co-operative Society, the whole of such income shall be deducted in computing the total income. Income by way of interest or dividend earned from investment with any other Co-operative Society, including Co-operative Banks, is deductible in computing the total income. Coordinate Benches of the Tribunal have allowed deduction for interest/dividend income earned from Co-operative Banks u/s 80P(2)(d). The Assessing Officer is directed to allow deduction for interest earned from Co-operative Banks, subject to verification.
Deduction u/s 80P - deduction of income earned as interest/dividend from co-operative bank is allowable. Section 80P(2)(d) reflects that if income by way of interest or dividend is derived by the Co-operative Society from its investment with any other Co-operative Society, the whole of such income shall be deducted in computing the total income. Income by way of interest or dividend earned from investment with any other Co-operative Society, including Co-operative Banks, is deductible in computing the total income. Coordinate Benches of the Tribunal have allowed deduction for interest/dividend income earned from Co-operative Banks u/s 80P(2)(d). The Assessing Officer is directed to allow deduction for interest earned from Co-operative Banks, subject to verification.
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