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6 results for “capital gains”+ Section 80p(2)clear

Sorted by relevance

Bangalore82Mumbai67Panaji41Delhi21Kolkata17Pune17Jaipur17Hyderabad16Lucknow13Visakhapatnam12Chandigarh11Raipur11Chennai11Cochin7Indore6Nagpur6Amritsar3Ahmedabad2

Key Topics

Section 80P8Deduction6Section 36(1)(viii)4Section 80P(2)4Section 143(2)4Section 80P(2)(a)4Addition to Income4Section 36(1)(viia)3Disallowance

VIDHARBHA KONKAN GRAMIN BANK ,NAGPUR vs. INCOME TAX OFFICER WARD 1(5) , NAGPUR

In the result, appeal filed by the assessee for A

ITA 7/NAG/2019[2014-15]Status: DisposedITAT Nagpur28 Nov 2024AY 2014-15

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

3
Section 222
Section 36(1)2
Business Income2

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

ASSTT.COMMISSIONER OF INCOME TAX CIRCLE-5, NAGPUR vs. THE NIRMAL UJWAL CREDIT CO-OP SOCIETY LTD, NAGPUR

In the result, appeal for the A

ITA 391/NAG/2019[2014-15]Status: HeardITAT Nagpur27 Nov 2024AY 2014-15

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Manoj G. MoryaniFor Respondent: Shri Vikash Agrawal
Section 139(1)Section 143(2)Section 143(3)Section 36(1)(viia)Section 80PSection 80P(2)

gains of business attributable to the business of providing banking and credit facilities to the members of society. Therefore, even if certain expenses are disallowed, it will result in increase in gross taxable income and deduction under section 80P, would be allowable on 100% of such gross taxable income. 5.5 This jurisprudence is also endorsed by the Pune Tribunal

ASSTT.COMMISSIONER OF INCOME TAX CIRCLE-5, NAGPUR vs. THE NIRMAL UJWAL CREDIT CO-OP SOCIETY LTD, NAGPUR

In the result, appeal filed by the Revenue for the assessment year

ITA 390/NAG/2019[2012-13]Status: HeardITAT Nagpur27 Nov 2024AY 2012-13

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Manoj G. MoryaniFor Respondent: Shri Vikash Agrawal
Section 139(1)Section 143(1)Section 143(2)Section 80PSection 80P(2)

Capital in bank or investment product is an activity ―ATTRIBUTABLE‖ to the business of the appellant, as specified in provision of section 80P(2)(a)(i). Therefore, the whole income of appellant is eligible for deduction U/s. 80P(2)(a)(i). 5. The learned AO relied on the judgment of Supreme Court in the case of Totagar‘s Cooperative Society

TAKALI JANSEVA NAGRI SAHKARI PAT SANSTHA LIMITED,NAGPUR vs. ITO WARD 2(2), NAGPUR, NAGPUR

In the result, appeal filed by the assessee is allowed

ITA 616/NAG/2024[2020-21]Status: DisposedITAT Nagpur25 Feb 2025AY 2020-21

Bench: Shri V. Durgarao

For Appellant: Shri Abhay AgrawalFor Respondent: Shri Abhay Y. Marathe
Section 234ASection 56Section 80PSection 80P(1)Section 80P(2)(a)Section 80P(2)(d)

capital and assessee was 2 Takali Janseva Nagri Sahakari Pat Sanstha Ltd. ITA no.616/Nag./2024 required to maintain liquid funds to meet its time and demand deposits repayment responsibility, as per applicable statutory regulatory guidelines. 3. Without prejudice, the assessee was also eligible for claim of deduction in respect of interest of Rs.48,77,959 under section 80P(2

NIMSHASKIYA MADHYANIK SHALEY KARAMCHARI SAHAKARI SANSTHA LTD.,WARDHA vs. INCOME TAX OFFICER, WARD-2, WARDHA

In the result, appeal filed by the assessee is allowed

ITA 156/NAG/2023[2017-18]Status: DisposedITAT Nagpur09 Sept 2024AY 2017-18

Bench: Shri V. Durga Rao

For Appellant: Shri Abhishek KumarFor Respondent: Shri Abhay Y. Marathe
Section 143(2)Section 56(2)(d)

capital. The assessee has also submitted that as per section 56(2)(d) of the Act, interest by way of interest on securities is chargeable under the residuary head i.e, other sources only if the income is not chargeable under the head profit & gains of businesses. The assessee has relied on the decision of ITAT in the case of Chhattisgarh