METAL CLOSURES PVT LTD,BANGALORE vs. ACIT, CIRCLE 4(1)(2), BANGALORE, BANGALORE

In the result, the appeal of the Revenue is treated as allowed for statistical purpose

Bench: Shri Chandra Poojari & Shri Prakash Chand Yadavassessment Year: 2014-15

36(1)(iii) of the Act. It was noted by the lower authorities that no such deduction to be allowed unless it has been taken only while computing income of the assessee in the previous year in which the amount of such debt or part there of is written off or of an earlier previous year, or represent money lent

INCOME-TAX OFFICER, WARD-7(2)(1), BENGALURU, BENGALURU vs. M/S. BANGALORE CREDIT CO-OPERATIVE SOCIETY LIMITED, BENGALURU

In the result both the appeals of the Revenue as well as\nCos of the Assessee for the Asst

Va Totgar's Co-operative Sale Society Limited. Sirsi in ITA No. 100066 of\n2016 dated 16.06.2017, wherein it was held that the income by way of interest earned\nfrom deposits and investments of surplus funds does not change its character\nirrespective of whether such interest is earned from the scheduled banks or the co-\noperative banks and thus clause