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2014 (2) TMI 76 - HC - Income TaxDeduction under section 80P(2) - Held that:- By virtue of newly amended subsection(4) of section 80P inserted with effect from 1.4.2007 by Finance Act, 2006 - The provisions of section 80P shall not apply in relation to any cooperative bank other than a primary agricultural credit society or a primary cooperative agricultural and rural development bank - As per CBDT circular No.133 of 2007 dated 9.5.2007 - Sub-section(4) of section 80P will not apply to an assessee which is not a cooperative bank - Respondent assessee is admittedly not a credit cooperative bank but a credit cooperative society - Decided against Revenue.
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