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1 - 9 of 9 (0.81 seconds)The Mavilayi Service Cooperative Bank ... vs Commissioner Of Income Tax Calicut on 16 September, 2019
M/s.The Kechery SCB Ltd
Assessing Officer shall examine the activities of the assessee-
society by following the dictum laid down by the Full Bench of
the Hon'ble jurisdictional High Court in the case of The
Mavilayi Service Co-operative Bank Ltd. v. CIT (supra) and
shall take a decision in accordance with law. It is ordered
accordingly.
Kerala Cooperative Societies Act, 1969
The Banking Regulation Act, 1949
Catholic Syrian Bank Ltd vs Commissioner Of Income Tax, Thrissur on 17 February, 2012
However, the Full Bench of the Hon'ble Kerala High Court in
the case of The Mavilayi Service Co-operative Bank Ltd. v. CIT
(supra) had reversed the above findings of the Hon'ble Kerala
High Court in the case of Chirakkal Service Co-operative Co-
operative Bank Ltd. v. CIT (supra).
The Meghalaya Co-operative Societies Act
The Chirakkal Service Co-Operative ... vs The Commissioner Of Income Tax on 28 February, 2013
In these cases, such a detailed
examination has not been conducted by the A.O. At the time
of assessment, the judgment of the Hon'ble jurisdictional High
Court in the case of Chirakkal Service Cooperative Bank Ltd.
(supra) was ruling the roost and the certificate issued by the
Registrar of Co-operative Society terming the assessee as a
primary agricultural credit society would be sufficient for
grant of deduction u/s 80P of the I.T.Act.
The Income Tax Act, 1961
Income Tax Officer Ward-7(2)(4), ... vs M/S Kammavari Credit Co-Operative ... on 7 December, 2018
In ITO,
Bangalore v. Yeshwantpur Credit Co-operative Society
Ltd., the IT AT following the ratio in Bangalore Commercial
Transport Credit Co operative Society Ltd., in ITA 1069/
Bang/2010 dated. 08-04-2011 held that there was a clear
distinction between a co-operative bank and a co-operative
society. It is held that the benefits of Section 80P is denied
only to Co-operative Banks u/ s. 80P(4), whereas the benefit
is available and extended to PACS Section 80P(4) does not
define the word "Co-operative Society". Therefore, the
provisions of the Banking Regulation Act does not get
attracted to the facts and circumstances of the case of the
appellant.
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