VADAKKEVILA SERVICE CO-OPERATIVE BANK LTD,KOLLAM vs. THE ITO, KOLLAM
Appeal is allowed in above terms
ITA 478/COCH/2023[2017-18]Status: DisposedITAT Cochin25 Sept 2024AY 2017-18
Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh
For Appellant: Ms.Anoopa, AdvocateFor Respondent: Sri.Sanjit Kumar Das, CIT-DR
Section 143(3)Section 194ASection 40Section 56Section 80PSection 80P(2)Section 80P(2)(a)
disallowing the interest paid to members u/s 40(a)(ia) of the Act without appreciating that the tax is not required to be deducted u/s 194A of the Act if the interest is paid to members of the co- operative society.”
3. We have given thoughtful consideration to the Revenue’s foregoing objection to the assessee’s sec.80P deduction claim
