Bonus to Co-operative Societies by KMF is ‘Dividend’, Eligible for Income Tax Deduction: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that the nature of the bonus paid by the Karnataka Milk Federation (KMF) is a dividend for the purpose of allowing deduction under section 80P(2)(d) of the Income Tax Act, 1961. The assessee, for the relevant assessment year, received an amount of Rs.22,67,980/- as a […]

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