{"id":26005,"date":"2022-03-27T11:14:09","date_gmt":"2022-03-27T05:44:09","guid":{"rendered":"https:\/\/itatonline.org\/digest\/venoor-co-operative-agricultural-bank-ltd-v-ito-2021-90-itr-20-sn-bang-trib\/"},"modified":"2022-03-27T11:14:09","modified_gmt":"2022-03-27T05:44:09","slug":"venoor-co-operative-agricultural-bank-ltd-v-ito-2021-90-itr-20-sn-bang-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/venoor-co-operative-agricultural-bank-ltd-v-ito-2021-90-itr-20-sn-bang-trib\/","title":{"rendered":"Venoor Co-Operative Agricultural Bank Ltd. v. ITO (2021) 90 ITR 20 (SN) (Bang.)(Trib.)"},"content":{"rendered":"<p>Held that whether interest and dividend earned through investments in Co-Operative Bank is eligible deduction. Matter remanded to the Assessing Officer to decide afresh in light\u00a0 of\u00a0 decisions in Totgar\u2019s Co-Operative Sale Society Ltd. v. ITO (2010)322 ITR\u00a0 283 (SC) and Tumkur Merchants Souharda Credit Co-Operative Ltd. v. ITO (2015) 230 Taxman 309 (Karn) (HC).\u00a0 As regards profits attributable to activity of\u00a0 providing credit facilities to\u00a0 its members\u00a0 the\u00a0 Assessing Officer was directed to\u00a0 examine claim afresh\u00a0 in light of\u00a0 principles enunciated in\u00a0 Mavilayi Service Co-Operative Bank Ltd. v. CIT\u00a0 (2021)431 ITR 1 (SC). (AY.\u00a0 2016-17)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 80P : Co-operative societies-Interest and dividend-Profits attributable to activity of  providing credit facilities to its members-Matter remanded to the Assessing Officer. [S. 80P(2)(a)(i), 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-26005","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-6Lr","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/26005","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=26005"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/26005\/revisions"}],"predecessor-version":[{"id":26006,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/26005\/revisions\/26006"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=26005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=26005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=26005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}