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Pending appeals must Halt Recovery Proceedings: Kerala HC Stays Income Tax Demand Against Cooperative Bank Citing SC Precedent [Read Order]

Yogitha S. Yogesh

In a recent ruling, the Kerala High Court stayed income tax recovery proceedings pending adjudication of an appeal, holding that recovery must halt...

Kerala Co-op Bank Secures Tax Win: ITAT allows ₹16.5 Lakh Deduction u/s 80P [Read Order]

Interest from Cooperative Banks Eligible for 80P Deduction: ITAT Allows ₹12.53 Lakh Claim Treating...

Interest from Cooperative Banks Deductible u/s 80P(2)(d) as they Fall Under 'Cooperative Society':...

Banking Law Amendment Bill - Bank account nominee limit 2025 - Taxscan

Rajya Sabha Approves Banking Law Amendment Bill: Up to Four Nominees Allowed for Bank Accounts, FDs

Eligibility for Deduction u/s 80P(2)(d) on Interest Earned from Co-operative Banks: ITAT Grants Deduction [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal(ITAT)ruled in favor of the assessee, granting the deduction under Section 80P(2)(d) of Income Tax Act,1961 for interest earned from a cooperative...

Cooperative Societies Eligible for Deduction on Interest Income from Cooperative Banks: ITAT Cites 'Co-op Banks are basically Co-op Societies’ [Read Order]

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) ruled that interest income earned from cooperative banks qualifies for a deduction under Section 80P(2)(d) of the Income Tax Act, 1961,...

Incentives Received Under “Atma Nirbhar Gujarat Sahay Yojna” are not Subsidy, GST Leviable: AAR [Read Order]

The Gujarat Authority for Advance Ruling (AAR) ruled that the incentives received under “Atma Nirbhar Gujarat Sahay Yojna” are not Subsidy and hence GST is leviable on it. The State Government...

Deduction u/s 80P(2)(d) of Income Tax Act Allowable on Interest Earned from Investment in Cooperative Bank: Madras HC [Read Order]

In a significant case, the Madras High Court has held that deduction under section 80p(2)(d) of the Income Tax Act, 1961 is allowable on interest earned from investment in Cooperative Bank. The...

State Declaration on KSCARDB as Cooperative Bank was Struck Down: Supreme Court directs RBI to Revoke Banking License [Read Order]

The Supreme Court directed the Reserve Bank India(RBI)to revoke the banking license and struck down the State declaration on Kerala State Co-Operative Agricultural And Rural Development Bank...

Interest received by Cooperative Societies from Cooperative Banks Eligible for Deduction under Section 80P of Income Tax: ITAT [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the interest received by the cooperative societies from cooperative banks is eligible for deduction under Section 80P of the...

Interest Income from Investment in Cooperative Banks by Cooperative Societies Eligible for Deduction u/s 80P(2)(d): ITAT [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the interest income received by cooperative societies from investment made in the cooperative banks are eligible for deduction...