Case Law Details
Case Name : ACIT Vs. The Gujrat State Co-op Bank Ltd. (ITAT Ahmedabad)
Related Assessment Year : 2009- 10
Courts :
All ITAT ITAT Ahmedabad
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The stand of the revenue that expenditure incurred by the society on giving presents to as own members would amount to expenditure on itself or application of its income to its members also could not be countenanced as the society was entirely a separate entity functioning under the provisions of the Gujarat Co-operative Societies Act, 1961 and was distinct from its members.
As per section 96 of the said Act, disputes can be contemplated even between the society, on the one hand, and its members, on the other. Thus, a society is a separate legal ent
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