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Section 80P Deduction Not Denied Solely for Having Associate Members: ITAT Bangalore

Case Law Details

Case Name
Anathapadmanabha Credit Cooperative Society Ltd. Vs ITO (ITAT Bangalore)
Date of Judgement/Order
Only available for paid members
Related Assessment Year
2016-17
Advertisement Anathapadmanabha Credit Cooperative Society Ltd. Vs ITO (ITAT Bangalore) Nominal & Associate Members Don’t Bar Section 80P Deduction – ITAT Sends Back for Verification Under KCS Act Limits Interest on Statutory FDs with Co-op Bank Eligible for 80P Relief – Subject to Verification of Mandatory Deposit Rule AO Can Verify Membership Composition for 80P, But Cannot Question Validity of Co-op Registration Assessee, a co-operative society registered under the Karnataka Co-operative Societies Act, 1959 (KCS Act), provided credit facilities to members &  claimed deducti...
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Author Info

CA Vijayakumar Shetty
Qualification: CA in Practice
Company: Shetty & Co, Chartered Accountants, Mangalore
Location: Mangalore, Karnataka
Articles Published: 5,842

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