Transfer-pricing aggregation of distinct support-service and subcontract transactions was rejected, while debt-free receivables attracted no notional ...
Customs exemptions cover photovoltaic assembly machinery and PVF backsheets, while fully declared cleared imports may avoid confiscation and penalties...
Specific tariff classification for LCD devices overrides treatment as electricity-meter parts, defeating differential duty, extended limitation, and p...
Stayed disciplinary punishment does not establish unfitness for insolvency professional registration; reconsideration must disregard mere pendency of ...
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Deductibility of interest income from investments u/s 80P(2)(a)(i) of the Income Tax Act for a primary agricultural credit cooperative society. The key points are: The assessee, being a primary agricultural credit cooperative society registered under the Kerala Co-operative Societies Act, is eligible for deduction u/s 80P. Interest earned from investments in cooperative banks is assessable as 'income from other sources' and eligible for deduction u/s 80P(2)(d). However, interest earned from treasury/commercial banks is not eligible for deduction u/s 80P. Interest and dividends received from entities registered under the Cooperative Societies Act, though income from other sources, are eligible for deduction u/s 80P(2)(d). The ITAT decided in favor of the assessee, rejecting the Revenue's contention that the interest income is not eligible for deduction u/s 80P(2)(d).
Deductibility of interest income from investments u/s 80P(2)(a)(i) of the Income Tax Act for a primary agricultural credit cooperative society. The key points are: The assessee, being a primary agricultural credit cooperative society registered under the Kerala Co-operative Societies Act, is eligible for deduction u/s 80P. Interest earned from investments in cooperative banks is assessable as 'income from other sources' and eligible for deduction u/s 80P(2)(d). However, interest earned from treasury/commercial banks is not eligible for deduction u/s 80P. Interest and dividends received from entities registered under the Cooperative Societies Act, though income from other sources, are eligible for deduction u/s 80P(2)(d). The ITAT decided in favor of the assessee, rejecting the Revenue's contention that the interest income is not eligible for deduction u/s 80P(2)(d).
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