Search Results for "deduction under section 80P"

21 result(s) found

Scroll Down To Discover

Found 21 result(s)

© Image Copyrights Juris Services & Technology

Bombay High Court Quashes Reassessment Notice and Order Against Co-operative Credit Society for Lack of Reasonable Belief of Income Escapement. Reopening under Section 148 of Income Tax Act, 1961 held invalid as notice was based on borrowed satisfaction and non-application of mind.

The petitioner, Mumbai Postal Employees Co-operative Credit Society Ltd., a co-operative credit society registered under the Maharashtra Co-operative ...

© Image Copyrights Juris Services & Technology

Bombay High Court Dismisses Revenue's Appeal in Income Tax Case — Cooperative Society Entitled to Deduction Under Section 80P(2)(e) on Ginning and Pressing Charges. Reopening of Assessment Based on Change of Opinion Not Justified.

The case involves an appeal by the Commissioner of Income Tax-I, Nagpur against the order of the Income Tax Appellate Tribunal (ITAT) which upheld the...

© Image Copyrights Juris Services & Technology

High Court of Bombay at Goa Dismisses Co-operative Society's Tax Appeals — Primary Co-operative Bank Excluded from Section 80P Deduction. Appellant's claim for deduction under Section 80P(2)(a)(i) denied as it is a Primary Co-operative Bank hit by Section 80P(4) of the Income Tax Act, 1961.

The case involves three tax appeals filed by M/s. The Quepem Urban Co-operative Credit Society Ltd. against the common order of the Income Tax Appella...

© Image Copyrights Juris Services & Technology

High Court of Karnataka Allows Appeal of Co-operative Credit Society for Deduction Under Section 80P(2)(a)(i) of Income Tax Act, 1961 — Registration Under Karnataka Co-operative Societies Act, 1959 Does Not Disqualify for Deduction Under Section 80P(2)(a)(i) of Income Tax Act, 1961.

The appellant, Venugram Multipurpose Co-operative Credit Society Ltd., is a co-operative credit society registered under the Karnataka Co-operative So...

© Image Copyrights Juris Services & Technology

Bombay High Court Upholds Deduction Under Section 80P for Co-operative Bank's Interest Income from Advance Rent. Interest on advance rent paid for business premises is closely connected to banking business and eligible for deduction under Section 80P(2)(a)(i) of the Income Tax Act, 1961.

The case involves an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) which upheld the decision ...

© Image Copyrights Juris Services & Technology

Bombay High Court Dismisses Appeal in Income Tax Case on Double Deduction Under Sections 80IA and 80HHC. Section 80IA(9) Mandates Reduction of Profits Allowed as Deduction Under Section 80IA(1) While Computing Deduction Under Any Other Provision Under Heading 'C' of Chapter VIA of the Income Tax Act, 1961.

The appellant, Associated Capsules Private Limited, is engaged in the manufacture of Empty Hard Gelatin Capsules and PVDC Capsules. It set up four ind...