THE DHAMAI COOPERATIVE AGRICULTURE SERVICE SOCIETY LIMITED,HOSHIARPUR vs. INCOME TAX OFFICER , HOSHIARPUR
In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside
ITA 273/ASR/2023[2017-18]Status: DisposedITAT Amritsar09 Nov 2023AY 2017-18
Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.273/Asr/2023 Assessment Year: 2017-18
Section 143(3)Section 250Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(4)
gains, was not immediately required by the assessee for lending money to the members, as there were no takers. Therefore, they had deposited the money in a bank so as to earn interest. The said interest income is attributable to carrying on the business of banking and therefore it is liable to be deducted in terms of Section 80P
