Reassessment and fee-for-technical-services classification: reopening upheld, but certain reimbursements and mobilization charges fell outside treaty ...
Section 80P deduction for co-operative societies remains available despite nominal members and housing society status, with limited interest income tr...
Commission income earned for collecting bills, dues and charges on behalf of a public utility is treated as akin to banking activity and, being incidental to the society's main objects, qualifies for the cooperative-society deduction under the relevant 80P provision; accordingly the claim for deduction in respect of commission received from the public utility was allowed and the appeal permitted. The note emphasises applicability of prior Tribunal precedent equating collection-of-dues activity with banking activity as determinative of entitlement.
Commission income earned for collecting bills, dues and charges on behalf of a public utility is treated as akin to banking activity and, being incidental to the society's main objects, qualifies for the cooperative-society deduction under the relevant 80P provision; accordingly the claim for deduction in respect of commission received from the public utility was allowed and the appeal permitted. The note emphasises applicability of prior Tribunal precedent equating collection-of-dues activity with banking activity as determinative of entitlement.
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