The Commissioner of Income Tax-II vs. The Andhra Bank Employees Co.Operative Bank Limited

In the result, for the above reasons, these appeals fail and

Bench: V.V.S.RAO,RAMESH RANGANATHAN

4) The provisions of this section shall not apply in relation to any co- operative bank other than a primary agricultural credit society or a primary co-operative agricultural and rural development bank. Explanation.—For the purposes of this sub-section,— (a) “co-operative bank” and “primary agricultural credit society” shall have the meanings respectively assigned to them in Part

Commissioner of Income Tax-II, vs. M/S The A.P.Mahesh Coop. Urban Bank Ltd,

In the result, for the above reasons, these appeals fail and

Bench: V.V.S.RAO,RAMESH RANGANATHAN

4) The provisions of this section shall not apply in relation to any co- operative bank other than a primary agricultural credit society or a primary co-operative agricultural and rural development bank. Explanation.—For the purposes of this sub-section,— (a) “co-operative bank” and “primary agricultural credit society” shall have the meanings respectively assigned to them in Part

The Commissioner of Income tax vs. M/s. Nirmala Constructions

The appeal stands dismissed

Bench: Cit(A) After The Amendment U/S. 80P(2)(A)(Iii) Of The Act? Iv) Whether, In The Facts & Circumstances Of The Case The

Section 80P(2)(a)(iv) and allow the deduction acording to law. 7. The Id. A.R. Submits that the assessee has received interest from other Co-operative Societies/Banks and after deduction the interest paid to State Government on loan, the net amount of interest amounting to Rs. 58,84,711.46 was shown as interest income and claimed as deduction

Principal Commissioner of Income Tax vs. M/s Nara Constructions,

Bench: CHALLA KODANDA RAM,C.V.NAGARJUNA REDDY

disallowed while computing the total income is not deemed to be income in respect of which particulars have been concealed. 6. In the context of the present case, we would like to first reproduce clause (viii) of Section 36(1) of the Act as applicable in the Assessment Years 2003-2004 to 2009-2010, which reads:- “36. (1) The deductions

Commissioner of Income Tax-2, vs. Agricultural Market Committee,

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani & The Hon’Ble Justice Rajarshi Bharadwaj Date : 28Th February 2024. Appearance: Mr. J. P. Khaitan, Senior Advocate Mr. Somak Basu, Advocate … For The Appellant. Mr. Vipul Kundalia, Advocate Mr. Anurag Roy, Advocate Ms. Oindrila Ghosal, Advocate … For The Respondent. 1. Heard Sri J. P. Khaitan, Learned Senior Advocate Assisted By Sri Somak Basu, Learned Counsel For The Appellant Assessee & Vipul Kundalia, Learned Senior Standing Counsel For The Respondent. 2. This Appeal Was Admitted By This Court By Order Dated 19.08.2011 On Four Substantial Questions Of Law. Learned Counsel For The Appellant Has Stated That The Appellant Does Not Want To Press The Substantial

4 crores. The purchases of bond of American Express Bank Ltd. were made between 12.7.1989 and 6.11.1989 on eight dates. The purchases of bonds of Can Bank Financial Services Limited were made between 29.3.1989 and 28.4.1989 on four dates. The bonds of M/s. Peerless General Finance and Investment Co. Limited were purchased between 31.5.1989 and 29.3.1990 on five dates. Thus