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)
2,68,544/-
Thus, it is clear that the assessee has parked its surplus/idle funds with the aforesaid banks and is earning huge interest income on FDRs. The assessee has claimed its entire income as deduction under section 80P of the Income-tax Act, 1961. Vide Notice under section 142(1) of the Income-tax Act, 1961 issued
