THE MARATHA URBAN CO-OPERATIVE CREDIT SOCIETY LTD,BELGAUM vs. INCOME TAX OFFICER, WARD - 5, BELGAUM

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali

2) (a) (i) under the Income tax act 1961 is not allowed.The Ld.AR mentioned the CIT(A) has erred in interpreting section 21B of the Karnataka Souhardaa Sahakari Act 1997 and find that the associate members are more than 15% of the total members and there is violation of the provisions by the assessee. On the similar disputed issue

HAVYAKA CREDIT SOUHARDA SAHAKARI NIYAMITA,KUMTA vs. INCOME TAX OFFICER, KARWAR

In the result, the appeal filed by the revenue is dismissed and twenty eight appeals filed by the assessee are partly allowed for statistical purpose in aforestated terms

Bench: Shri Pavan Kumar Gadale & Shri G. D. Padmahshali