Grants from West Bengal State Government to Co-operative Society not Income from other source: ITAT directs to allow Deduction u/s 80P [Read Order]

By Yogitha S. Yogesh - On May 26, 2023 8:00 pm - 2 mins read

The Income Tax Appellate Tribunal (ITAT) of Kolkata bench has held that grants from West Bengal State Government to cooperative societies are not income from other sources and directed to allow deduction under section 80P of the Income Tax Act, 1961. Udyan Large Size Multipurpose Cooperative Society Limited, the assessee is a Cooperative Society, formed…

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