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Co-op Credit Society Eligible for Section 80(P)(2) Income Tax deduction: SC
Case Law Details
- Case Name
- CIT Vs Annasaheb Patil Mathadi Kamgar Sahakari Pathpedi Limited (Supreme Court of India)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- Supreme Court of India
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CIT Vs. Annasaheb Patil Mathadi Kamgar Sahakari Pathpedi Limited (Supreme Court)
There are concurrent findings recorded by CITA, ITAT and the High Court that the respondent/Assessee cannot be termed as Banks/Cooperative Banks and that being a credit society, they are entitled to exemption under Section 80(P) (2) of the Income Tax Act.
Such finding of fact is not required to be interfered with by this Court in exercise of powers under Article 136 of the Constitution of India. Even otherwise, on merits also and taking into consideration the CBDT Circulars and even the definition of Bank under th...
