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2018 (2) TMI 502 - AT - Income TaxEligibility of deduction u/s. 80P - whether the assessee was a 'Primary Agricultural Credit Society' or a 'Co-operative bank' - Held that:- CIT(A) is justified in directing the Assessing Officer to grant deduction u/s. 80P(2). See Edanad-Kannur Service Co-operative Bank Ltd. and others [2018 (1) TMI 848 - ITAT COCHIN] wherein as held Assessing officer was not competent and did not possess the jurisdiction to resolve / decide the issue as to whether the assessee was a 'Primary Agricultural Credit Society' or a 'Co-operative bank', within the meaning assigned to it under the provisions of the Banking Regulation Act and to take a contrary view especially in view of the Explanation provided after the clause (ccvi) of section 5 r.w.s Section 56 of the Banking Regulation Act. - Decided against revenue
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