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1 - 10 of 14 (0.31 seconds)The Gujarat Co-Operative Societies Act, 1961
The National Bank For Agriculture And Rural Development Act, 1981
Section 56 in The Banking Regulation Act, 1949 [Entire Act]
Section 22 in The Banking Regulation Act, 1949 [Entire Act]
Baroda Citizen Community Co. Op. Credit ... vs The Ito, Ward-1(2)(2), Vadodara on 1 December, 2021
In the case of Baroda
Citizen Community Co-op. Credit Society Ltd. vs. Income-tax Officer
[2022] 134 taxmann.com 290 (Ahmedabad - Trib.)/[2022] 193 ITD 113
(Ahmedabad - Trib.)[01-12-2021], the Tribunal held that in case of co-
operative credit society, income to which benefit of section 80P(2)(a)(i) is not
allowed, basic exemption of Rs. 50,000/- as provided in section 80P(2)(c)(ii)
must be granted. Accordingly, looking into the instant facts, we are of the
view that the assessee is eligible for grant of deduction under section
80P(2)(c) of the Act, subject to the condition that the non-eligible income
exceeds this amount.