Interactive flat panels meeting automatic data processing conditions are distinguished from monitors, while later classification clarifications apply ...
Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
ITAT held that interest income from deposits and investments with co-operative banks qualifies for deduction under s.80P(2)(d), as co-operative banks are, in substance, co-operative societies. Following consistent judicial precedent, ITAT ruled the assessee is legally entitled to claim such deduction. However, since necessary documentary details were not produced before the lower authorities, ITAT did not grant the deduction outright. Instead, ITAT remanded the matter to the Jurisdictional Assessing Officer to examine the evidentiary details to be furnished by the assessee, after affording adequate opportunity of hearing, and directed that, if the factual claim is found correct, the deduction under s.80P(2)(d) shall be allowed accordingly.
ITAT held that interest income from deposits and investments with co-operative banks qualifies for deduction under s.80P(2)(d), as co-operative banks are, in substance, co-operative societies. Following consistent judicial precedent, ITAT ruled the assessee is legally entitled to claim such deduction. However, since necessary documentary details were not produced before the lower authorities, ITAT did not grant the deduction outright. Instead, ITAT remanded the matter to the Jurisdictional Assessing Officer to examine the evidentiary details to be furnished by the assessee, after affording adequate opportunity of hearing, and directed that, if the factual claim is found correct, the deduction under s.80P(2)(d) shall be allowed accordingly.
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