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2021 (10) TMI 1413 - HC - Income TaxExemption u/s 80-P - claim denied as petitioner is not a Co-operative Society within the meaning of Section 2(19) - HELD THAT:- As decided in Swabhimani Souharda Credit Co-operative Ltd [2020 (1) TMI 831 - KARNATAKA HIGH COURT] all entities registered under the said Act of 1997 are Cooperative Societies within the meaning of Section 2(19) of the IT Act, 1961 and that they would be entitled to stake their claim for exemption under Section 80-P. In view of the decision of M/s. Swabhimani Souharda Credit Cooperative Ltd.,(supra), we are of considered opinion that the impugned Assessment Order at Annexure-E is erroneous and illegal and therefore, deserves to be quashed and the matter be remitted back for re-consideration afresh in accordance with law, bearing in mind the observations and findings recorded in this order. Decided in favour of assessee.
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