Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2021 (5) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (5) TMI 555 - HC - Income TaxDeduction u/s 80P(2)(a)(i) denied - appellant claims to be a society established and registered under the provisions of the Kerala Co-operative Societies Act, 1969 - The case of the appellant is that the income of a co-operative society does the business of banking by providing credit facilities only to its members, and the income derived therefrom is exempt from the payment of Income-tax under section 80P(2)(a)(i) - HELD THAT:- The counsel appearing for the appellant as well as the respondent would state that the issues considered by the orders impugned in the appeal are no more res integra and are covered in favour of the assessee by the judgment of the apex court in Mavilayi Service Co-operative Bank Ltd. v. CIT [2021 (1) TMI 488 - SUPREME COURT]. The statement is placed on record and accepted. - Decided against revenue.
|