Inquiry into Factual Situation required to determine Section 80P Deduction Eligibility

Peruvemba Service Cooperative Bank Limited Vs ITO (ITAT Cochin) The issue under consideration is whether the AO need to conduct an Inquiry into Factual Situation as to activities of assessee society to determine eligibility of deduction u/s 80P? ITAT states that, the Assessing Officer has to conduct an inquiry into the factual situation as to the activities of the assessee society to determine the eligibility of deduction u/s 80P of the I.T.Act. The Assessing Officer is not bound by the registration certificate issued by the Registrar of Kerala Co-operative Society classifying the assessee-soc...