THE MAVILAYI SERVICE COOPERATIVE BANK LTD. vs. COMMISSIONER OF INCOME TAX CALICUT
C.A. No.-007343-007350 - 2019Supreme Court12 Jan 2021
Bench: Us, The Assessing Officer Denied Their Claims For Deduction, Relying Upon Section 80P(4) Of The It Act, Holding That As Per The Audited Receipt & 2
Section 147Section 19Section 263Section 80PSection 80P(2)(a)Section 80P(4)
80P. Deduction in respect of income of co-operative
societies.—(1) Where, in the case of an assessee being a
co-operative society, the gross total income includes any
income referred to in sub-section (2), there shall be
deducted, in accordance with and subject to the provisions
of this section, the sums specified in sub-section (2), in
computing
