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

Parties Involved

Facts Summary

The case involves twin appeals by M/s.Kottayam Service Co-operative Bank Limited against the Commissioner of Income Tax's order disallowing their Section 80P deduction claims for the assessment years 2007-08 and 2009-10. The lower authorities had treated the assessee as a cooperative bank rather than a cooperative society, thereby denying the deduction. The appellant argued that they were entitled to the deduction as they were not a cooperative bank but a cooperative society. The tribunal considered the statutory provisions and precedents to determine the eligibility of the appellant for the deduction under Section 80P of the Income Tax Act, 1961.…

Legal Issues

• 1. Whether the assessee is a cooperative society or a cooperative bank within the meaning of Section 80P(2) of the Act.
• 2. Whether the assessee is eligible for the deduction under Section 80P of the Act.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

Similar Judgements

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

  Cochin bench

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

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

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• The Jagraon Co-operative Marketing Cum Processing Society Ltd. vs. The ITO

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• Income Tax Officer, Ward-1, Kanchipuram vs 41.Uttiramerur Urban Cooperative Credit Society Ltd.

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

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