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

Parties Involved

Facts Summary

The case involves an appeal by M/s. Clappana Service Co-operative Bank Limited against the disallowance of its deduction claim under Section 80P(2) of the Income Tax Act, 1961. The assessee claims that it is eligible for the deduction as it is a co-operative society. The Revenue, however, argues that the assessee is a co-operative bank and hence not eligible for the deduction. The Tribunal has to decide whether the assessee is a co-operative society or a co-operative bank to determine its eligibility for the deduction.…

Legal Issues

• 1. Whether the assessee is a co-operative society or a co-operative bank?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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