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2017 (8) TMI 1389 - AT - Income TaxDisallowance of deduction u/s 80P(2)(a)(vi) - Held that:- NLC Industrial Co-operative society, the assessee, is registered as a co-operative society under Tamil Nadu Cooperative Act, 1983 - the board of the assessee society is responsible for the affairs of the assessee society and not the NLC board .The ultimate authority of its administration is vested with the General Body of the members. NLC or its nominated members, if any, do not have voting rights in elections of the assessee society as per Rule 22 of its Byelaws. NLC has been co-opted as a member only for operational ease and convenience to assist the board of the assessee society in administration, without which the smooth running of the assessee society will be practically difficult .Further, the registration of the society has not been revoked under law for violation of the provisions of TNSCA, 1983 - hence the order of the CIT(A) does not require any interference and hence the revenue’s appeal is dismissed - Decided in favor of assessee.
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