The Adivasi Krishak Multi State Cooperative Society Ltd. Vs. ITO, Ward-3(2), Ranchi
Parties Involved
Facts Summary
The assessee is a Multi State Cooperative Society formed under the MSCS Act 2002, with the objective of organizing, promoting, and developing marketing, processing, and storage of agricultural produce. During the relevant financial year, the assessee provided technical education and training services to its members, who belong to the Adivasi community. The assessee received grants, training fees, membership fees, and contributions, resulting in a surplus of Rs.13,34,052/-. The assessee claimed a deduction under section 80P of the Income Tax Act, which was disallowed by the revenue authorities. The case was appealed to the NFAC, which upheld the order of the Assessing Officer, stating that the assessee's activities did not fall under section 80P and did not adhere to the principles of mutuality.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the activities of the assessee qualify for deduction under section 80P of the Income Tax Act?
Judgment Outcome
Decided in favour of Assessee.