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HomeDirect TaxDistrict Milk Co-operative Eligible for S. 80P Deduction: ITAT

District Milk Co-operative Eligible for S. 80P Deduction: ITAT

Direct Tax

Published on

By Mariya Paliwala
ITAT

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The Income Tax Appellate Tribunal (ITAT), Rajkot Bench has granted major relief to a district-level milk co-operative society by allowing deduction under Section 80P(2)(b) of the Income Tax Act, while also holding that interest income cannot be taxed twice and that interest and dividend earned from co-operative institutions qualify for deduction under Section 80P(2)(d).  The…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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