{"id":4957,"date":"2019-04-18T12:44:14","date_gmt":"2019-04-18T12:44:14","guid":{"rendered":"http:\/\/itatonline.org\/digest\/tiara-co-operative-agricultural-service-society-ltd-v-ito-2018-194-ttj-1-uo-chd-trib\/"},"modified":"2019-04-18T12:44:14","modified_gmt":"2019-04-18T12:44:14","slug":"tiara-co-operative-agricultural-service-society-ltd-v-ito-2018-194-ttj-1-uo-chd-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/tiara-co-operative-agricultural-service-society-ltd-v-ito-2018-194-ttj-1-uo-chd-trib\/","title":{"rendered":"Tiara Co-Operative Agricultural Service Society Ltd.  v. ITO (2018) 194 TTJ 1 (UO) (Chd.)(Trib.)"},"content":{"rendered":"<p>Tribunal held that if the FDR&#8217;S in banks were made from operational funds of cooperative society while carrying out its activity of providing credit to its members, interest earned thereon being incidental to carrying out said activity, was attributable to said activity and hence entitled to deduction u\/s 80P(2)(a)(i).\u00a0 Matter restored to the file of AO for limited purpose of examining activities carried out by assessee society and whether deposits made by it in banks were done during course of carrying out its stated activities and thereafter decide issue in accordance with law. As regards alternative plea the Tribunal held that gross interest is taxable and not net. (AY. 2009-10 to 2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 80P : Co-operative societies\u2013Interest income\u2013FDR with banks\u2013 Operational funds\u2013Entitle to deduction-Remanded for verification-Gross or net\u2013Gross interest is held to be taxable. [S. 56, 57 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_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":[1],"tags":[],"class_list":["post-4957","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1hX","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4957","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=4957"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4957\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=4957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=4957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=4957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}