September 2008

Section 80P, Sec. 80P(2)(a)(i)

Karnataka H.C : Whether the finding of the Tribunal that interest received by the assessee from securities and deposits in bank is not attributable to the amount of profits and gains of the business and therefore, does not qualify for exemption under s. 80P(2)(a)(i) of the Act and as assessed under s. 56 of the Act is contrary to law and calls for interference in this appeal ?

High Court Of Karnataka The Totgars Co-Operative Sale Society Ltd. vs. ITO Section 80P(2)(a)(i), 151 Asst. Year 1991-92 V.G. Sabhahit […]

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