Deduction under s 80P(2)(a)(i) & Exemption under s 115F

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From: CA Saiprasad Bagrecha <saiprasadbagrecha@gmail.com>

Dear All,

Please find enclosed text on the above topics.Deduction under s 80P(2)(a)(i) & Exemption under s 115F

 

http://www.indiantaxhome.com/2011/07/deduction-under-s-80p2ai_29.html

Interest income received by the co-operative bank from advance rent is eligible for a deduction under s 80P(2)(a)(i), as held by MumHC in CIT v The Maratha Mandir Co-op Bank Ltd — In favour of: The assessee; ITA No 4125 of 2010.

http://www.indiantaxhome.com/2011/07/exemption-under-s-115f.html

Bonus shares received by the assessee are eligible for an exemption under s 115F even if the original shares were acquired in foreign currency, as held by MumTrib in Sanjay Gala v ITO — In favour of: The assessee; ITA No 2989/Mum/2008: (AY 2005–2006).