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Nominal Members Do Not Defeat Section 80P Deduction- Bang ITAT Grants Relief to Co-operative Society
Case Law Details
- Case Name
- Lokapavani Credit Co-operative Society Ltd. Vs ITO (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Bangalore
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Lokapavani Credit Co-operative Society Ltd. Vs ITO (ITAT Bangalore)
The Bangalore ITAT held that the mere presence of associate or nominal members does not disentitle a co-operative society from claiming deduction u/s 80P(2)(a)(i). In the case of Lokapavani Credit Co-operative Society Ltd., the Assessing Officer had denied section 80P deduction by relying on the Supreme Court ruling in Citizen Co-operative Society Ltd., alleging that the society had nominal members and therefore ceased to qualify for deduction. The Tribunal, however, relied on the later Supreme Court ruling in...
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