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2015 (2) TMI 1284 - AT - Income TaxDeduction u/s 80P - assessee carries on the banking business and other business in the name of a credit cooperative society - Held that:- Activities of the assessee were limited to the members of a specific group and the area of operative was also limited to the acceptance of deposits of the members and providing credit facilities only to the members, which have been held not falling under the banking activities as defined in the Banking Regulation Act - CIT (A) has rightly adjudicated the issue under consideration by holding that the assessee as a cooperative bank, the deduction of claim u/s 80P(2)(a)(i) of the Act cannot be denied is fair and reasonable and it does not call for any interference. - Decided against revenue
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