Case Law Details
Savanoor Primary Agricultural Co-operative Society Ltd. (ITAT Bangalore)
Introduction: The recent decision by the Income Tax Appellate Tribunal (ITAT) Bangalore regarding the case of Savanoor Primary Agricultural Co-operative Society Ltd. involves the re-adjudication of a deduction under Section 80P(2)(e) of the Income Tax Act. This article provides an in-depth analysis of the tribunal’s order, examining the issues raised, arguments presented, and the implications of the decision.
Detailed Analysis:
Savanoor Primary Agricultural Co-operative Society Ltd., a registered co-operative society under the Karnataka State Cooperative Societies Act, filed an appeal against the CIT(A)’s order concerning the denial of a deduction under Section 80P of the Income Tax Act for the assessment year 2018-19.
The tribunal’s decision primarily focuses on several issues raised by the assessee regarding different sections of Section 80P:
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