Co-operative society eligible for deduction u/s 80P(2)(a)(i) on Interest Income from banks

CASE LAWS DETAILS DECIDED BY: ITAT, CHANDIGARH BENCHES (B) IN THE CASE OF: Punjab State Cooperative Federation of House Building Societies Ltd. Vs ACIT, APPEAL NO: ITA No. 996/Chd/2009, DECIDED ON January 29, 2010 RELEVANT PARAGRAPH 9. The salient features of the impugned case have already been noted by us namely, that the assessee is a Co-operative Society, set up by the Government of Punjab registered under the Punjab Co-operative Societies Act, 1961. The Assessing Officer has duly noted that its primary business is to grant loans to members in Urban and Rurah Co-operative Housing Societies ...