HC slam AO for denying Sec. 80P deduction on interest income without considering assessee's arguments

HC slam AO for denying Sec. 80P deduction on interest income without considering assessee's arguments

November 02, 2020
INCOME TAX : Assessing Officer was not justified in denying exemption under section 80P to assessee-society on interest income without considering assessee's argument that funds deposited which gave rise to interest income did not constitute a surplus, but a mandatory statutory reserve

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