ITAT allows Deduction to Union Bank of India u/s 80P (2)(a)(i) for Dividends from Co-operative Bank Shares [Read Order]

The assessee, being a Co-operative Society, is eligible to claim a deduction under Section 80P (2) (a)(i) of the Income Tax Act for dividends received from Chennai Central Co-operative Bank.
ITAT - Union Bank of India us 80P (2)(a)(i) - Dividends - Co - operative Bank Shares - TAXSCAN

The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) has allowed Union Bank of India to claim deduction under Section 80P (2) (a) (i) for dividends received from cooperative bank shares. The Union Bank of India Staff Co-op Thrift and Credit Society Limited, was a Multi-State Cooperative Society, registered under the Multi…

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