Co-operative bank is entitled to claim deduction of bad debts provided in first part of section 36 (1) (viia) (a) @ 7.50% of total Income and same cannot be denied linking it to rural advances
Disallowance cannot be made in respect of donation made in an institution based on valid CBDT approval: ITAT Mumbai
Vaildity Deduction u/s 80P to credit cooperative society providing credit to its members is cooperative Bank
GSTN issues Updated Advisory on GST Invoice Reporting: 7 days Time Limit applicable for Invoices and Credit/Debit Notes also
ITAT Mumbai held that deduction u/s 36(1)(via) is to be allowed on the total outstanding advances at the end of each month considering the opening balances.
‘Not Everything Said In a Judgment Constitutes a Precedent’- Supreme Court Explains Distinction Between Obiter Dicta & Ratio Decidendi
Cooperative Banks are also registered Cooperative Societies and Sec 80P deduction is available: ITAT Ahmedabad
TDS under section 194-IA of the Income Tax Act is only applicable when the consideration for the transfer of immovable property exceeds Rs. 50 lakhs per buyer.
RCM is not applicable on reimbursement of expenses paid on behalf of the company at actuals which are incurred by employee/staff being a whole-time director of the company
Assessee entitled to claim Input Tax Credit for the period from cancellation of registration till restoration
Validity of addition under section 153 C Of Income Tax in the absence of incriminating material being found during the search in respect of such other person in an unabated assessment
