Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
Interest earned by a co-operative society from investments with a co-operative bank qualified for deduction under section 80P(2)(d). The Tribunal followed the Gujarat HC ruling in PCIT v. Ashwinkumar Arban Co-operative Society Ltd., holding that a co-operative bank remains a co-operative society for this purpose and that the exclusion in section 80P(4) does not prevent another co-operative society from claiming the deduction on such interest income. The disallowance was therefore unsustainable and the deduction claim was upheld on merits.
Interest earned by a co-operative society from investments with a co-operative bank qualified for deduction under section 80P(2)(d). The Tribunal followed the Gujarat HC ruling in PCIT v. Ashwinkumar Arban Co-operative Society Ltd., holding that a co-operative bank remains a co-operative society for this purpose and that the exclusion in section 80P(4) does not prevent another co-operative society from claiming the deduction on such interest income. The disallowance was therefore unsustainable and the deduction claim was upheld on merits.
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