Captive power transfer pricing and non-resident export commission rules support deletion of adjustments and withholding disallowance in discussed proc...
Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
Customs jurisdiction over EPCG condition breaches survives export-obligation discharge certificates, requiring alleged fraud and misdeclaration to be ...
ITAT adjudicated a tax dispute regarding deduction u/s 80P(2)(d) for interest income from cooperative banks. The tribunal held that a cooperative housing society can claim tax deduction on interest received from cooperative banks, provided such banks do not require RBI licensing under Banking Regulation Act. In absence of specific findings from lower authorities demonstrating the cooperative banks' regulatory status, the tribunal allowed the assessee's appeal and directed the Assessing Officer to delete the contested disallowance, thereby providing a favorable interpretation of the statutory provision for cooperative housing societies' tax treatment.
ITAT adjudicated a tax dispute regarding deduction u/s 80P(2)(d) for interest income from cooperative banks. The tribunal held that a cooperative housing society can claim tax deduction on interest received from cooperative banks, provided such banks do not require RBI licensing under Banking Regulation Act. In absence of specific findings from lower authorities demonstrating the cooperative banks' regulatory status, the tribunal allowed the assessee's appeal and directed the Assessing Officer to delete the contested disallowance, thereby providing a favorable interpretation of the statutory provision for cooperative housing societies' tax treatment.
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