{"id":3181,"date":"2018-12-10T11:53:21","date_gmt":"2018-12-10T11:53:21","guid":{"rendered":"http:\/\/itatonline.org\/digest\/lalitamba-pattina-souharda-v-ito-2018-166-dtr-400-karn-hc\/"},"modified":"2019-04-30T00:50:24","modified_gmt":"2019-04-30T00:50:24","slug":"lalitamba-pattina-souharda-v-ito-2018-166-dtr-400-karn-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/lalitamba-pattina-souharda-v-ito-2018-166-dtr-400-karn-hc\/","title":{"rendered":"Lalitamba Pattina Souharda Sahakari Niyamita v. ITO (2018) 166 DTR 400\/ ( 2019) 307 CTR 770 (Karn.)(HC)"},"content":{"rendered":"

Held \u00a0by the High Court that:<\/p>\n

    \n
  1. Interest earned by the society in investing in the banks is attributable to the activity of carrying on business in the banking or providing credit facilities to its members by a co-operative society and is liable to be deducted from the gross total income under Section 80P of the Act<\/li>\n<\/ol>\n

    Revenue Authorities mixing up the provisions of Section 80P(2)(a)(i) and Section 80P(2)(d) of the Act cannot reject the claim of assessee under Section 80P(2)(a)(i) without giving a proper finding on the issue. Matter remanded to Assessing Officer . (AY. 2012-2013)<\/p>\n","protected":false},"excerpt":{"rendered":"

    S. 80P : Co-operative societies -Providing credit facilities to members – Interest earned by the society in investing in the banks – Activity of carrying on business in the banking or providing credit facilities to its members is eligible for deduction- Matter remanded to Assessing Officer.[ S. 80P(2)(a)(i)]<\/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_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":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-3181","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-Pj","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3181","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=3181"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3181\/revisions"}],"predecessor-version":[{"id":5276,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3181\/revisions\/5276"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=3181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=3181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=3181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}