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

Parties Involved

Facts Summary

The Kadanad Service Co-operative Bank Limited (appellant) filed appeals against the orders of the National Faceless Appeal Centre, Delhi, which declined the section 80P deduction for the assessment years 2017-18, 2018-19, and 2020-21. The appellant argued that the lower authorities erred in law and on facts by denying the deduction. The main issue was whether the appellant was eligible for the section 80P deduction as a co-operative bank or co-operative society. The Revenue argued that the appellant was not a co-operative society but a co-operative bank, and thus ineligible for the deduction. The Tribunal analyzed the statutory provisions and precedents, concluding that the appellant was not a co-operative bank but a co-operative credit society eligible for the deduction under section 80P.…

Legal Issues

• 1. Eligibility of the appellant for section 80P deduction

Judgment Outcome

Decided in favour of Assessee.

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