Supreme Court · 2023 INSC 830 · Decided 14 September 2023
Kerala State Co-Operative Agricultural and Rural Development Bank LTD. Kscardb v. The Assessing Officer, Trivandrum and ORS.
- Court
- Supreme Court of India
- Citation
- 2023 INSC 830 · [2023] 12 S.C.R. 318
- Case number
- CIVIL APPEAL No. 10069/2016
- Decided
- 14 September 2023
- Bench
- B.V. NAGARATHNA, UJJAL BHUYAN (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 80P, 80P(2)(a)(i), 80P(4)
Headnote
HEADNOTES Issue for consideration: Whether the appellant-assessee, a co- operative society, is entitled to claim deduction of the whole of its profi ts and gains of business attributable to the business of credit facilities to its members who are all co-operative societies u/s.80P, Income Tax Act, 1961. Income Tax Act, 1961 - s.80P - Appellant, if a co-operative bank within the scope and meaning of sub-section (4) of s.80P and thus, not eligible to the benefi t of deduction as
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