VIDHARBHA KONKAN GRAMIN BANK ,NAGPUR vs. INCOME TAX OFFICER WARD 1(5) , NAGPUR
In the result, appeal filed by the assessee for A
ITA 8/NAG/2019[2015-2016]Status: DisposedITAT Nagpur28 Nov 2024AY 2015-2016
Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member
For Appellant: Shri C. NareshFor Respondent: Shri Sandipkumar Salunke
Section 22Section 36(1)Section 36(1)(viia)Section 36(1)(viii)Section 80P
80P(2)(a)(i), the profits and gains of a co-operative society engaged in the business of banking or providing credit Facilities to its members are completely exempt from income-tax.
13.3 It may be relevant to mention that the provisions of new clause
(vila) of section 36(1) relating to the deduction on account of provisions