“Section 10(2)(xxi)”

Section References (mined)Section 10Section 10(2)(xxi)1 judgments

Judgments citing Section 10(2)(xxi)

Sri Bramaramba Pattina Souharda Shakari Sangha Niyamitha, Maski vs. Income Tax Officer, Ward-1, Raichur

In the result, the appeal filed by the assessee is allowed

ITA 189/BANG/2025[2020-21]Status: DisposedITAT Bangalore05 Jan 2026AY 2020-21

Bench: Shri Prashant Maharishi, Vice – & Shri Soundararajan K.Assessment Year : 2020-21

For Appellant: Shri Siva Prasad Reddy, ITPFor Respondent: Shri Subramanian .S, JCIT-DR

Section 142(1)Section 143(2)Section 71Section 80PSection 80P(2)Section 80P(2)(a)

deposits in the co-operative banks/other scheduled banks are made in compliance of the provisions of the Karnataka Souharda Sahakari Act, 1997. Section 10(2)(xxi), read with section 18 of the said Societies Act, mandates that 25% of the profits of the year is to be invested