Nominal Members No Bar to Section 80P Deduction; ITAT Sends Cooperative Society’s Claim Back for Fresh Examination

Adarsha Multipurpose Cooperative Society Ltd. Vs ACIT (ITAT Bangalore) Nominal Members No Bar to Section 80P Deduction; ITAT Sends Cooperative Society’s Claim Back for Fresh Examination The Bangalore ITAT held that the presence of nominal members cannot by itself be a ground to deny deduction under Section 80P(2)(a)(i) to a cooperative society. Relying on the Supreme Court’s decision in Mavilayi Service Co-operative Bank Ltd., the Tribunal observed that the view adopted by the lower authorities treating nominal members as non-members for denying deduction is no longer sustainable in la...