Kerala HC Stays Recovery Pending Appeal on Section 80P Deduction Dispute

Renjith K.R. Vs Assessing Officer (Kerala High Court) Kerala HC Stays Recovery – NFAC Directed to Decide Co-op Bank’s 80P Appeal in Light of Mavilayi Ruling The petitioner, representing the Government Employees Co-operative Bank Ltd. No.57, challenged recovery action initiated based on the assessment order for AY 2019–20 while its appeal & stay petition were still pending before the NFAC. The petitioner contended that the primary dispute concerned denial of deduction u/s 80P of the Income-tax Act, which stood settled in favour of co-operative societies by the Supreme Court in Mavilay...