The Mumbai bench Income Tax Appellate Tribunal ( ITAT ) held that income from the fixed deposit of cooperative banks are eligible for deduction under Section 80P(2)(d) of Income Tax Act, 1961. In this case

In an assessee-favor ruling, the Cochin bench of ITAT said that the assessee, a primary agricultural credit society is entitled to the benefit of deduction under Section 80P (2) of the Income Tax Act, with

The Cochin Bench of Income Tax Appellate Tribunal ( ITAT ) in the case of Income Tax Officer v. M/s. Perinthalmanna Service Co-operative Bank Ltd. holding in favor of the assessee adjudged that the income

The Pune bench of the Income Tax Appellate Tribunal (ITAT) directed the assessing officer to re-adjudicate the rejection of the claim of deduction under section 80P of the Income Tax Act,1961 due to utilization of

The High Court of Madras, in a recent decision, ruled that the Co-operative Societies lending money for non-agricultural purpose are eligible for deduction under section 80P of the Income Tax Act, 1961. While quashing the

The Bangalore bench of the Income Tax Appellate Authority ( ITAT ) observed that Banking company as per Section 2(c) of Banking regulations Act, 1949, would be eligible for claim of deduction under Section 80P(2)(d)

The Kolkata bench of Income Tax Appellate Tribunal (ITAT) has recently held that interest income from fixed deposits of co-operative society made during the course of business is eligible for deduction under Section 80P(2)(a)(i) of

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that interest income arising from the investment made out of reserve fund is exempted under Section 80P(2)(a)(i) of the Income Tax Act, 1961. The

In a recent ruling, the ITAT, Bangalore held that the interest income earned by a co-operaive Society on funds which are not required for the business deposited in the fixed deposit in the bank is

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the income earned by the co-operative society is eligible for deduction under Section 80P(2)(a)(i) of the Income Tax Act, 1961. The assessee is

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has issued an order for re-adjudication regarding the deduction for agricultural loans provided to members under Section 80P(2)(e) of the Income Tax Act, 1961. The

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that a co-operative bank is eligible for deduction under section 80P(2)(a)(i) of the Income Tax Act, 1961 interest from staff welfare fund and

The Pune bench of the Income Tax Appellate Tribunal ( ITAT) held that the Interest income earned by the cooperative society on deposits of surplus funds by the scheduled banks is eligible for the deduction

The Kolkata bench of Income Tax Appellate Tribunal (ITAT) has recently held that interest income from fixed deposits of co-operative society made during the course of business is eligible for deduction under Section 80P(2)(a)(i) of

The Hyderabad bench of Income Tax Appellate Tribunal (ITAT) recently held that interest income of Farmers service co-operative society from fixed deposits in Union Bank of India is deductible under Section 80P(2)(a)(i) of Income Tax