Administrative fraud classification suspension does not halt independent criminal investigation or warrant-based searches into alleged economic offenc...
Arrest safeguards and transit remand requirements invalidated detention following inter-State transfer without communicated grounds or magistrate auth...
Page of 4805
Press 'Enter' after typing page number.
821 to 840 of 96092 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The High Court upheld the Tribunal's decision allowing deduction u/s 80P(2)(d) of the Income Tax Act to the assessee, a cooperative society, on the interest income earned from investments made with a cooperative bank. This is in line with previous judgments that cooperative societies are eligible for deduction on interest income from investments with cooperative banks, which are also cooperative societies. The Principal Commissioner's invocation of revisionary powers u/s 263 was unjustified as the assessment was not erroneous or prejudicial to revenue interests. The twin conditions for invoking Section 263 were not met.
The High Court upheld the Tribunal's decision allowing deduction u/s 80P(2)(d) of the Income Tax Act to the assessee, a cooperative society, on the interest income earned from investments made with a cooperative bank. This is in line with previous judgments that cooperative societies are eligible for deduction on interest income from investments with cooperative banks, which are also cooperative societies. The Principal Commissioner's invocation of revisionary powers u/s 263 was unjustified as the assessment was not erroneous or prejudicial to revenue interests. The twin conditions for invoking Section 263 were not met.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
