Held that interest income from a co-operative bank which was registered under Co-operative Societies Act, 1912 is eligible for deduction. Held that commission income on collection of MSEDCL bills which was from business activity carried on by assessee, same is eligible for deduction under section 80P(2)(a)(i). (AY. 2018-19)
Anand Urban Co-operative Credit Society Ltd. v. ITO (2024) 206 ITD 36 (Pune) (Trib.)
S. 80P : Co-operative societies-Interest income-Co-Operative Bank-Eligible for deduction-Commission income on collection of MSEDCL bills which was from business activity-Eligible for deduction under section 80P(2)(a)(i) [S. 80P(2)(a)(i), 80P(2)(d)]
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