ITAT determined CPC exceeded jurisdictional authority in ...

Cooperative Society Wins Tax Deduction Battle: Section 80P Upheld Against CPC's Jurisdictional Overreach

May 7, 2025

Case Laws Income Tax AT

ITAT determined CPC exceeded jurisdictional authority in disallowing Section 80P deduction for cooperative society. Despite belated ITR filing, the tribunal found no legal basis for CPC to deny deduction under Section 80P(2). The impugned order was vacated, directing CPC to reverse disallowance and accept the claimed deduction under Chapter VI-A. The tribunal explicitly held that CPC lacked explicit statutory power to reject the deduction at the intimation stage under Section 143(1), thereby restoring the appellant's tax benefit.

View Source

← Previous Next →

ITAT determined CPC exceeded jurisdictional authority in ...

Cooperative Society Wins Tax Deduction Battle: Section 80P Upheld Against CPC's Jurisdictional Overreach

May 7, 2025

Case Laws Income Tax AT

You may also like:

Deductibility of interest income from investments u/s 80P(2)(a)(i) of the Income Tax Act for a primary agricultural credit cooperative society. The key points are: The...

The High Court upheld the Tribunal's decision allowing deduction u/s 80P(2)(d) of the Income Tax Act to the assessee, a cooperative society, on the interest income...

Deduction claimed u/s. 80P(2)(a)(i) - Status showing as AOP and not mentioned as cooperative society - The Tribunal referred to the definition of "person" under section...

Allowability of deduction u/s 80P(2)(d) for interest income from deposits/investments in a cooperative bank by a cooperative society. The assessee, a cooperative society...

Interest income earned by a cooperative society from deposits made with another cooperative bank is eligible for deduction u/s 80P(2)(d) of the Income Tax Act. The...

Deduction u/s 80P(2)(d) - Interest income earned by the Society comes with the category of income from other sources and Section 80P(2)(d) deals with the eligible...

Deduction u/s 80P(2)(a)(i) was denied by the Assessing Officer on grounds that the assessee society cannot be termed a mutual concern and principles of mutuality cannot...

Deduction u/s 80P - interest income received from parking its surplus funds with Co-operative Bank - interest would be eligible for claim of deduction under section...

Deduction u/s 80P - deduction of income earned as interest/dividend from co-operative bank is allowable. Section 80P(2)(d) reflects that if income by way of interest or...

Disallowance of deduction(s) u/s 80P - interest income from the investments made in co-operative/other bank(s) - The tribunal analyzed Sec. 80P(2)(d) and determined that...

Deduction u/s 80P(2)(a) is allowed for a cooperative society earning interest and dividend income from deposits with a Delhi State Cooperative Bank registered under the...

HC ruled that Section 194N of the Income Tax Act, 1961 applies comprehensively to cooperative banking societies, rejecting the petitioner's claim for exemption under...

ITAT restored matter to AO for re-computation of deduction u/s 80P regarding interest from bank investments. Following precedent in Cooperative Cane Development Union...

Denial of deduction claimed u/s 80P (2)(d) - AO disallowed the benefit by invoking the provision of section 154 for rectification of mistake change of opinion - interest...

Deduction of claim u/s. 80P(2)(a)(i) - claim denied on interest - The Assessee being a Primary Agriculture Credit Society is a Co-operative Society. The primary object...

Quick Updates: