THE GRAMIN SEVA SAHAKARI SAMITI MARYADIT,RAIPUR (CG) vs. THE INCOME TAX OFFICER 1(3), RAIPUR (CG)
In the result, the appeal filed by the assessee is allowed for statistical purposes
ITA 31/BIL/2016[2011-12]Status: DisposedITAT Raipur22 Oct 2018AY 2011-12
Bench: Shri R.K. Panda & Ms Suchitra Kambleassessment Year: 2011-12 Gramin Seva Sahakari Samiti Maryadit, Vs. Income Tax Officer 1(3), Vill. Mohda Tilda, Aaykar Bhavan, Raipur, Civil Lines, Raipur (Cg). Raipur, Pan: Aaaag9755H Raipur (Cg).
For Appellant: Shri G.S. Agrawal, CAFor Respondent: Shri P.K. Mishra, CIT, DR
Section 28Section 56Section 80Section 80PSection 80P(2)(a)
4) by the Finance Act,
2006 w.e.f. 01.04.2007, the Co-operative Banks have been deprived of the benefits of section 80P, whereas the Co-operative Societies are enjoying the benefits of the said section.
According to the section 5(b) of the Banking Regulation Act, 1949,
Banking is “the accepting for the purpose of lending or investment
