M/s. Chirayinkeezhu Service Cooperative Bank Ltd. vs. The Income Tax Officer

Parties Involved

Facts Summary

The case involves an appeal by M/s. Chirayinkeezhu Service Cooperative Bank Ltd. against the order of the Commissioner of Income Tax (Appeals) - National Faceless Appeal Centre, Delhi, which disallowed the assessee's deduction claim under Section 80P(2) of the Income Tax Act, 1961. The assessee claimed a deduction for income derived from M/s. Trivandrum District Co-operative Bank Ltd. The Revenue argued that the assessee is a co-operative bank and not eligible for the deduction. The Tribunal examined the issue of whether the assessee is a co-operative society or a co-operative bank within the meaning of Section 80P(2) of the Act. The Tribunal concluded that the assessee is not a co-operative bank and is eligible for the deduction under Section 80P of the Act.…

Legal Issues

• 1. Whether the assessee is a co-operative society or co-operative bank within the meaning of Section 80P(2) of the Act.

Judgment Outcome

Decided in favour of Assessee.

Similar Judgements

• M/s. Puthiyangadi Service Co-operative Bank Limited v. The Income Tax Officer

  Cochin bench

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

  Cochin bench

• Mananthavady Co-operative Urban Society Limited v. The Income Tax Officer

  Cochin bench

• Nedumon Service Co-op. Bank Ltd. vs. The Income Tax Officer

  Cochin bench

• Umayanallor Service Co-op. Bank Ltd. vs. The Income Tax Officer

  Cochin bench

• M/s. Clappana Service Co-operative Bank Limited v. The Income Tax Officer

  Cochin bench