Section 80P Archives - taxcaselaw.com

Allahabad H.C : Entitlement of the assessee for deduction 80P of the Act is not relevant for charging addition Tax u/s 143(1A)

Avijit Das / July 23, 2018

High Court Of Allahabad Fatehpur Kshetriya Gramin Bank vs. Additional Commissioner Income Tax Section : 80P, 143(1)(a) Asst. Year : […]

Section 80P

S.C : Where assessee society was engaged in activity of finance business and was also engaged in activity of granting loans to general public as well, it could not be termed as co-operative society meant only for its members and providing credit facilities to its members, hence not entitled to deduction under section 80P

Avijit Das / August 8, 2017

Supreme Court Of India Citizen Co-operative Society Ltd. vs. ACIT, Circle-9(1), Hydrabad Assessment year 2009-10 Section 80P A.K. Sikri And

Income Tax Case Laws, Section 80P

Karnataka H.C : The Assessing Authority being the disallowed deduction claimed u/S. 80P(2)(d) of the Income Tax Act and in the light of the decision of the Supreme Court with regard to the same exact assessee as the present one, namely, The Totgars Co-operative Sale Society Ltd. v. Income Tax Officer in Civil Appeal Nos.1622 to 1629/2010 decided by the Apex Court on 08.02.2010 or not

Avijit Das / January 5, 2017

High Court Of Karnataka Pr.CIT, Hubli vs. Totagars Co-Operative Sale Society Section 80P Raghvendra S. Chauhan And Sreenivas Harish Kumar,

Section 80P, Sec. 2(31)

Karnataka H.C : Society assessed to tax on its income as ‘person’ as defined under Section 2(31) of Income Tax Act, 1961, is entitled to claim exemption over its profits paid to its members and claim it as expenditure in the accounts before offering the profit for tax

Avijit Das / November 19, 2016

High Court Of Karnataka CIT vs. Nagarbail Salt-Owners Co-Operative Society Ltd. Section 80P, 2(31) Ashok B. Hinchigeri And P.S. Dinesh

Section 80P, Section 63, Section 64

Calcutta H.C : The Income Tax Appellate Tribunal by allowing deduction on income earned by the assessee from investment in banks and other financial institutions has rendered the provisions of Section 80P(2)(a)(i) nugatory as the said section of the Act allows deduction to a cooperative Society engaged in carrying on business of banking or providing credit facilities to its members

Avijit Das / July 15, 2016

High Court Of Calcutta CIT, Kolkata-X vs. South Eastern Railway Employees Co-Op Credit Society Ltd. Section 80P , 63 And

Section 80P

Madras H.C : The Appellate Tribunal was right in directing the assessing officer to allow the deduction under Section 80P(2) of the Income Tax Act to the assessee who is primarily engaged in lending loans for non agricultural purposes

Avijit Das / July 5, 2016

High Court Of Madras CIT, Coimbatore vs. Veerakeralam Primary Agricultural Co-Operative Credit Society Section 80P Assessment Years 2008-09 To 2010-11

Section 80P, Section 147

S.C : Deduction under section 80P to assessee-bank was disallowed by Commissioner (Appeals) as well as Tribunal, special leave petition filed by assessee against High Court’s order allowing reassessment proceeding, became infructuous

Avijit Das / November 27, 2015

Supreme Court Of India Punjab State Co-Op. Agri. Dev. Bank Ltd. vs. CIT-I Section : 80P, 147 A.K. Sikri And

Section 80P

Kerala H.C : the appellant societies cannot be considered as cooperative societies engaged in the collective disposal of labour of its members as contemplated under section 80P (2) (a) (vi) of the Act and therefore, ineligible for deduction under section 80P

Avijit Das / August 13, 2015

High Court Of Kerala Nileswar Range Kallu Chethu Vyavasaya Thozhilali Sahakarana Sangham vs. CIT Section 80P(1) Asst. Year 2008-09 Antony

Section 80P

Karnataka H.C : the interest earned on short-term deposits in banks were only investment in the course of activity of providing credit facilities to members and that the same cannot be considered as investment made for the purpose of earning interest income and consequently passed a perverse order

Avijit Das / June 9, 2015

High Court Of Karnataka Guttigedarara Credit Co-operative Society Ltd. vs. ITO, Ward 2(2), Mysore Section : 80P Mohan M. Shantanagoudar

Section 220, Section 80P

Madras H.C : The claim of the petitioner was rejected holding that the petitioner did not satisfy the definition of ‘agricultural credit society’ set out in terms of the Explanation to Section 80P(4)

Avijit Das / June 5, 2015

High Court Of Madras Kalapet Primary Agriculture Co-Op. Credit Society Ltd. vs. ITO, Ward-4 Pondicherry Assessment Year : 2009-10 Section