ITAT deletes Disallowance of Rs 1 Lakh on account of Democratization of Premium of Govt Securities [Read Order]

ITAT - Disallowance - Premium - Govt Securities - taxscan

The Income Tax Appellate Tribunal (ITAT), New Delhi Bench deleted disallowance of Rupees 1 Lakh on account of democratization of premium of government securities. The assessee, Ram Garhia Co-operative Bank Ltd is a co-operative society carrying on the business of providing credit and deposits facilities. The assessee filed return of income declaring the total income…

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