{"id":14822,"date":"2021-01-03T16:10:49","date_gmt":"2021-01-03T16:10:49","guid":{"rendered":"https:\/\/itatonline.org\/digest\/mysore-district-co-operative-milk-producers-society-union-ltd-v-a-cit-202082-itr-11-snbang-trib\/"},"modified":"2021-01-03T16:10:49","modified_gmt":"2021-01-03T16:10:49","slug":"mysore-district-co-operative-milk-producers-society-union-ltd-v-a-cit-202082-itr-11-snbang-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/mysore-district-co-operative-milk-producers-society-union-ltd-v-a-cit-202082-itr-11-snbang-trib\/","title":{"rendered":"Mysore District Co-Operative Milk Producers Society Union Ltd. v. A CIT (2020)82 ITR 11 (SN)(Bang) (Trib)"},"content":{"rendered":"<p>Tribunal held that the computation mechanism for\u00a0 payment of\u00a0 bonus and dividend were different but both were towards distribution of\u00a0 net profit of\u00a0 the Federation. Dividend is only a distribution of\u00a0 the net profits. The nature of\u00a0 bonus received by the assessee from the Federation was nothing but dividend although the mechanism of\u00a0 its computation was different\u00a0 because both bonus and dividend were paid to the assessee as distribution of\u00a0 net profits only. The Assessing Officer was directed to consider the amount of\u00a0 bonus received by the assessee from the Federation as dividend received from the Federation and allow deduction Under Section\u00a080P(2)(d)\u00a0in\u00a0 respect of\u00a0 receipt of bonus\u00a0 also .( AY.2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 80P : Co-operative societies &#8211; Member of  Federation- Bonus- Dividend \u2014Bonus  to be considered as dividend- Assessing Officer is directed to verify the nature of the bonus received .[ S.80P(2) (d) <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-14822","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3R4","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14822","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=14822"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14822\/revisions"}],"predecessor-version":[{"id":14823,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14822\/revisions\/14823"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=14822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=14822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=14822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}