This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Section 80P Deduction eligible to Co-Op Bank Primarily engaged in Banking Business
Case Law Details
- Case Name
- The Chombal Service Co-operative Bank Limited Vs ITO (ITAT Cochin)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2010-11
- Courts
- All ITAT, ITAT Cochin
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
The Chombal Service Co-operative Bank Limited Vs ITO (ITAT Cochin)
The issue under consideration is whether co-operative bank is eligible for deduction under section 80P of income tax Act, 1961 ?
ITAT states that, the claim of deduction u/s 80P of the I.T.Act was denied, by relying on the judgment of the Larger Bench of the Hon’ble jurisdictional High Court in the case of The Mavilayi Service Co-operative Bank Ltd. v. CIT (supra). The CIT(A) ought not to have rejected the claim of deduction u/s 80P(2) of the I.T.Act without examining the activities of the assessee-society. The Full Bench of...
