Case Law Details
Swabhimani Souharda Credit Co Operative Ltd Vs Government of India (Karnataka High Court)
Petitioner is a Credit Cooperative, registered under the Karnataka Souharda Sahakari Act, 1997; petitioner is registered as the State Federal Cooperative, as provided under Section 33 of the said Act; they have knocked at the doors of writ court in substance for a prayer that they are entitled to seek deduction in respect of their income in terms of the scheme envisaged under section 80P of the Income Tax Act, 1961 , on the premises that they too are a Cooperative Society, on par with those registered under the provisions of Karnataka Co-operative Societies Act, 1959.
On Appeal high court declared that entities registered under the Karnataka Souharda Sahakari Act, 1997 fit into the definition of “co-operative society” as enacted in sec.2(19) of the Income Tax Act, 1961 and therefore subject to all just exceptions, petitioners are entitled to stake their claim for the benefit of sec. 80P of the said Act; a Writ of Certiorari issues quashing the impugned notice dated 30.03.2018 at Annexure-D in W.P.No.48414/2018; other legal consequences accordingly do follow.
FULL TEXT OF THE HIGH COURT ORDER / JUDGMENT
Petitioner in W.P.No.48414/2018 is a Credit Cooperative, registered under the Karnataka Souharda Sahakari Act, 1997 (hereafter “1997 Act”); petitioner in W.P.No.14381/2019 is registered as the State Federal Cooperative, as provided under Section 33 of the said Act; they have knocked at the doors of writ court in substance for a prayer that they are entitled to seek deduction in respect of their income in terms of the scheme envisaged under section 80P of the Income Tax Act, 1961 (hereafter “1961 Act”), on the premises that they too are a Cooperative Society, on par with those registered under the provisions of Karnataka Co-operative Societies Act, 1959.
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