Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (1) TMI 784 - AT - Income TaxEntitlement for deduction u/s 80P - whether the respondent assessee before us is whether primary agricultural society or a primary co-operative agricultural rural development bank? - Held that:- Undisputedly, it is a co-operative bank. But it is not a primary agricultural credit society. The area of operation of the respondent– assessee is not confined to a Taluk and therefore it is not a primary cooperative agricultural and rural development bank. Therefore, provisions of sub-section (4) of section 80P are squarely applicable and the ratio of the decision of the Hon’ble Kerala High Court in the case of Kerala State Co-operative Agricultural & Rural Development Bank Ltd. (2016 (5) TMI 1164 - KERALA HIGH COURT ) is squarely applicable. We hold that the respondent-assessee was not entitled for deduction u/s 80P - Decided against assessee.
|