Madras Autorickshaw Drivers' Co-operative Society v. CIT

M/S. Kerala State Co-Op.Agricultural & Rural Development Bank Ltd vs. Commissioner of Income Tax

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE VIJU ABRAHAM

…the Tribunal contrary to law and perverse, especially in view of the observation of the Madras High Court in CIT Vs Madras Autorickshaw Drivers' Co- operative Society Ltd. [1983] 143 ITR 981 (MAD) which is affirmed by the Apex Court in [2001] 249 ITR 330(SC): "The tax relief under section 80P(2)(a)(i) is a grant by Parliament not to a category of income but to a category of assessee, namely a co- operative society answering the description of a society engaged in carrying on the business of providing credit facilities to its members. If the society in question does not answer this description, it…

The Sri Gowri Cooperative Society, Visakhapatnam vs. Principal Commissioner of Income Tax-1, Visakhapatnam

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blem/S. The Sri Gowri Vs. Pr.Cit-1, Co-Operative Society, Visakhapatnam. D.No.49-34-32/1, Konathala Complex, Akkayyapalem Main Road, Visakhapatnam. Pan No. Aaaat 8140 M (Appellant) (Respondent)

…ase agreements will not be exempt under section 80P(2)(a)(i). This decision of the Division Bench of the Madras High Court was confirmed by the Supreme Court in a very brief order Madras Autorickshaw Drivers' Co-operative Society vs. CIT [2001] 117 Taxman 370/249 ITR 330. 16. In CIT v. Nawanshahar Central Co-operative Bank Ltd. [2007] 289 ITR 6/160 Taxman 48 (SC), the Supreme Court was concerned with a case where a co-operative society carrying on the business of banking and which is statutorily required to park a part of its funds in approved securities would be entitled to deduction under section 80P(2)(a) of t…

Sri Uma Kamandaleswara Co - Operative Rural Bank Ltd., Athreyapuram vs. The Addl. CIT, Kakinada

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Blesri Uma Kamandaleswara Vs. Addl.Cit, Kakinada Co-Op Rural Bank Ltd., Ryali, Range, Kakinada. Athreyapuram Mandalm, East Godavari District. Pan No. Aadas 4663 B (Appellant) (Respondent)

…ase agreements will not be exempt under section 80P(2)(a)(i). This decision of the Division Bench of the Madras High Court was confirmed by the Supreme Court in a very brief order Madras Autorickshaw Drivers' Co-operative Society vs. CIT [2001] 117 Taxman 370/249 ITR 330. 16. In CIT v. Nawanshahar Central Co-operative Bank Ltd. [2007] 289 ITR 6/160 Taxman 48 (SC), the Supreme Court was concerned with a case where a co-operative society carrying on the business of banking and which is statutorily required to park a part of its funds in approved securities would be entitled to deduction under section 80P(2)(a) of t…