RAMAPURAM NORTH AISWARYA PRADAYINI SCB LTD ,ALAPPUZHA vs. THE ITO WARD 3, ALAPPUZHA

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year 2017-18 Ramapuram North Aiswarya Pradayini Scb Ltd. Ramapuram North, The Income Tax Officer Vs. Keerikadu P.O., Alappuzha Ward - 3, Pin - 690508 Alappuzha Pan Aacar2023D (Appellant) (Respondent)

68 taxmann.com 298 (Ker.) These Revenue’s contentions rejected accordingly. 3 Ramapuram North Aiswarya Pradayini SCB Ltd. 4. Learned DR’s next case is that assessee had violated the corresponding norms by not having extended credit facility by way of agricultural loans to the eligible members. We find that hon’ble apex court’s landmark decision Mavilayi Service Cooperative Bank