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Deduction u/s. 80P available to entities registered under Karnataka Souharda Sahakari Act, 1997
Case Law Details
- Case Name
- Nagalambika Pattina Souharda Sahakari Niyamita Vs ITO (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Bangalore
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Nagalambika Pattina Souharda Sahakari Niyamita Vs ITO (ITAT Bangalore)
ITAT Bangalore held that deduction under section 80P of the Income Tax Act is duly available to the entities registered under Karnataka Souharda Sahakari Act, 1997.
Facts- Assessee is a Cooperative Society registered under Karnataka Souharda Sahakari Act, 1997. It is involved in the business of providing credit facilities to its members in form of loans for business, housing etc. It also collects funds from its members.
AO noted that as per the Certificate filed by the assessee, it is registered under Karnataka Souharda Sah...
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