https://www.taxtmi.com/caselaws?id=397621 The Tribunal directed the Assessing Officer to treat the bonus received by the assessee from M/s. Karnataka Co-operative Milk Producers' Federation as dividend, allowing deduction under section 80p(2)(d) of the Income Tax Act, 1961. The decision favored the assessee, emphasizing the equivalence of the bonus to dividend in the distribution of net profits by KMF. The judgment underscored the significance of interpreting income nature and relevant statutory provisions governing profit distribution in co-operative societies. en-us Fri, 21 Aug 2020 00:00:00 +0530 Mon, 24 Aug 2020 12:14:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397621 The Tribunal directed the Assessing Officer to treat the bonus received by the assessee from M/s. Karnataka Co-operative Milk Producers' Federation as dividend, allowing deduction under section 80p(2)(d) of the Income Tax Act, 1961. The decision favored the assessee, emphasizing the equivalence of the bonus to dividend in the distribution of net profits by KMF. The judgment underscored the significance of interpreting income nature and relevant statutory provisions governing profit distribution in co-operative societies. Case-Laws Income Tax Fri, 21 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397621