Case Law Details
Case Name : Narayana Guru Cooperative Vs ITO (ITAT Delhi)
Related Assessment Year : 2012-13
Courts :
All ITAT ITAT Delhi
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Narayana Guru Cooperative Vs ITO (ITAT Delhi)
In Sree Narayana Guru Cooperative & Credit Society Ltd., the ITAT Delhi allowed the assessee’s appeal and deleted additions of ₹4.67 crore made u/s 68 towards alleged unexplained term deposits and cash deposits. The Tribunal observed that the society was a mutual thrift & credit cooperative accepting deposits only from its own members and granting loans to members, and detailed member-wise records, cash book and financial
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