SRI SIDDESHWAR SOUHARDA PATTIN SAHAKARI NIYAMITHA VIJAYAPURA,VIJAYAPURA vs. INCOME TAX OFFICER, WARD 1& TPS, BIJAPUR

ITA 1084/BANG/2024Status: DisposedITAT Bangalore27 June 2024AY 2017-18Bench: SMT. BEENA PILLAI (Judicial Member)1 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal held that entities registered under the Karnataka Souharda Sahakari Act, 1997, are considered co-operative societies for the purpose of Section 80P, as per the Karnataka High Court ruling. The issue of denial of deduction for extending credit facilities to nominal/associate members was remitted to the AO.

What were the facts?

The assessee, a Souharda Co-operative Society, was denied deduction under Section 80P(2)(a)(i) by the AO on the grounds that it was registered under the Karnataka Souharda Sahakari Act, 1997, and not the Karnataka Co-operative Societies Act, 1959. The CIT(A) dismissed the appeal for non-compliance.

What were the issues?

Whether entities registered under the Karnataka Souharda Sahakari Act, 1997, qualify as co-operative societies for Section 80P deduction, and whether denial of deduction for extending credit to nominal members is justified.

Which sections of the Income-tax Act were involved?

Section 80P,Section 143(2),Section 142(1),Section 2(19),Section 80P(2)(a)(i),Section 80P(4),Section 80P(2)(d),Section 57

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(5)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Income Tax Appellate Tribunal, SMC-‘B’ BENCH : BANGALORE

Before: SMT. BEENA PILLAI

For Appellant: Shri Varun Bhat, CA, Shri Ganesh R Ghale, Advocate

PER BEENA PILLAI, JUDICIAL MEMBER Present appeal arises out of order dated 22.04.2024 passed by Ld.CIT(A)-5, Kolkata for A.Y. 2017-18 on following grounds of appeal: Tax effect relating to Grounds of Appeal each Ground of appeal That the learned Commissioner of Income Tax (`Appeals') [`CIT(A)1 — National Faceless Appeal Centre has erred on facts and General Ground circumstances of the case and in law so far as the first appellate order passed by him / her is prejudicial to the interest of the Appellant.

1.

The learned CIT(A) has erred on facts and in circumstances of the case and in law so far as he was not provided sufficient opportunity of being heard.

2.

He f

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 80P

All 5,069 judgments and leading authorities on Section 80P →

Recent GST High Court judgments

Search GST case law →