Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (9) TMI 806 - AT - Income TaxDeduction u/s 80P - Deduction in respect of income of Co-operative Societies - whether a souharda registered under the Karnataka SouhardaSahakari Act, 1997 can be regarded as co-operative society entitled to benefit of deduction u/s.80P(2)(a)(i)? - HELD THAT:- As relying on Swabhimani Souharda Credit Co-operative Ltd. [2020 (1) TMI 831 - KARNATAKA HIGH COURT] we are of the view that the assessee should be allowed deduction under section 80P(2)(a)(i) of the Act and the CIT(A) was justified in doing so. Except the ground that the Assessee was not a co-operative society entitled to deduction u/s.80P(2)(a)(i) of the Act, no other reasons were given for denying the benefit of the said deduction to the Assessee. Hence, the order of CIT(A) is upheld. - Decided against revenue.
|