Disallowance of deduction claimed by a cooperative society u/s 80P(2)(a)(i) of the IT Act

Last updated: 13 September 2021
Quick Summary
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench, has allowed an appeal filed by a co-operative credit society concerning the disallowance of a deduction claimed under Section 80P(2)(a)(i) of the Income Tax Act. The Assessing Officer had disallowed the deduction, citing a violation of the principles of mutuality due to the presence of nominal/associate members. However, the ITAT has set aside the previous order and restored the matter to the Assessing Officer for a fresh examination, in light of a recent Supreme Court decision.

Court :
ITAT Bangalore

Brief :
The assessee has filed this appeal challenging the order dated 06.01.2020 passed by Ld CIT(A), Mangaluru and it relates to the assessment year 2016-17.

Citation :
ITA No.468/Bang/2020

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