Sec 80P Deduction available to Bank for Investments with Sub-Treasuries during its Business / Providing Credit Facilities to its Members: ITAT [Read Order]

The Cochin Bench of Income Tax Appellate Tribunal ( ITAT ) in the case of Income Tax Officer v. M/s. Perinthalmanna Service Co-operative Bank Ltd. holding in favor of the assessee adjudged that the income earned by provision of credit facilities to it members by the Co-Operative Societies is subject to deduction under Section 80P(2)(a)(i) […]

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