Souharda Society Wins 80P Deduction – ITAT Rejects Technical Denial & Expands Benefit

G M Souharda Pattina Sahakara Nyt Vs ITO (ITAT Bangalore) Souharda Society Wins 80P Deduction – ITAT Rejects Technical Denial & Expands Benefit In G M Souharda Pattina Sahakara Niyamitha, the Bangalore ITAT dealt with denial of deduction u/s 80P(2)(a)(i) to a Souharda co-operative society. The Assessing Officer had denied deduction on the ground that: The assessee was not registered under the Karnataka Co-operative Societies Act, and Allegedly earned income from non-members. The CIT(A) also denied deduction relying on Mavilayi Service Co-operative Bank Ltd. However, the ITAT held: A s...