Kerala State Co-operative Agricultural and Rural Development Bank Ltd. v. The Assessing Officer, Trivandrum and Others

Parties Involved

Facts Summary

The case involves the Kerala State Co-operative Agricultural and Rural Development Bank Ltd. (appellant) challenging the orders of the Kerala High Court, the Commissioner of Income Tax (Appeals), and the Income Tax Appellate Tribunal. The appellant, a co-operative society, disputes the denial of deduction under Section 80P of the Income Tax Act, 1961, for its profits and gains from banking or providing credit facilities to its members. The appellant argues that it is not a 'co-operative bank' and thus should be entitled to the deduction. The case revolves around whether the appellant qualifies as a 'co-operative bank' under the relevant statutes and whether it is entitled to the deduction under Section 80P.…

Legal Issues

• 1. Whether the appellant is a 'co-operative bank' within the meaning of sub-section (4) of Section 80P of the Act?
• 2. Whether the ratio of the judgment in Mavilayi Service Co-operative Bank and the tests laid down therein apply to the case of the appellant herein?
• 3. What order?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

Similar Judgements

• The Mavliayi Service Cooperative Bank Ltd. & Ors. vs. Commissioner of Income Tax, Calicut & Anr.

  Supreme Court bench

• The Thachinganadam Service Cooperative Bank Limited vs. The Income Tax Officer

  Cochin bench

• The General Insurance Employees Co-operative Society Limited v. The Income Tax Officer

  Cochin bench

• Mala Block Town Co-operative Bank Limited v. The Income Tax Officer

  Cochin bench

• Kottayam Service Co-operative Bank Limited v. The Income Tax Officer

  Cochin bench

• Thurayur Service Co-operative Bank Limited v. The Income Tax Officer

  Cochin bench