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2014 (5) TMI 1084 - ITAT CHENNAIEntitlement to benefit to the assessee- societies available u/s. 80P(2)(a)(i) - Held that:- This issue has been considered in M/s. SL(SPL) 151, Karkudalpatty Primary Agricultural Co-operative Credit Society Ltd. Versus The Income Tax Officer [2014 (5) TMI 556 - ITAT CHENNAI ] as afer perusing the relevant provisions of State Co-operative Societies Act, 1983, governing similar assessees, the Tribunal found that definition of ‘members’ includes ‘associate members’, as well. The Tribunal found that such nominal members also enjoy statutory recognition as per the State Cooperative Societies Act. The Tribunal further observed that the objections of the Revenue that ‘members’ defined in sub-clause (i) of section 80P(2) should only include voting members, would amount to a classification within classification which is beyond the purview of taxing statute; unless provided specifically by the legislature. Therefore, we find that the issue raised in these appeals stands adjudicated by the Tribunal in favour of the assessees. Accordingly, we set aside the orders of the lower authorities on this point and direct the assessing authority to grant the benefit to the assessee- societies available u/s. 80P(2)(a)(i). - Decided in favour of assessee
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