Sri Ganesh Credit Co-operative Society , Bangalore Vs Principal Commissioner of Income Tax-2, Bangalore

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Last updated: 22 October 2020
Quick Summary
This case involves Sri Ganesh Credit Co-operative Society appealing a decision by the Principal Commissioner of Income Tax (Pr.CIT) in Bangalore. The Pr.CIT reviewed the society's tax assessment for the 2014-15 financial year, where a deduction under Section 80P(2)(a)(i) was initially allowed. The Pr.CIT believed the assessment order was flawed because the Assessing Officer (AO) didn't adequately investigate whether the credit facilities were provided only to 'regular' members, as required by Supreme Court rulings, and not to 'nominal' members.

Court :
ITAT Bangalore

Brief :
This appeal by the assessee is against the order dated 31.3.2019 of the CIT(Appeals), Bangalore-2, Bangalore passed u/s. 263 of the Income-tax Act, 1961 [the Act].

Citation :
ITA No. 695/Bang/2019

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1 Year PLAN
1999
(Excl. of GST ₹359)

2 Years PLAN
3499
(Excl. of GST ₹629)

BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)

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