2019 (9) TMI 782 - SCH - Income Tax

Deduction u/s 80P (2) - scope of introduction of sub-section (4) - provisions of this Section applicability in relation to any Co-operative Bank other than a Primary Agricultural Credit Society or a Primary Co-operative Agricultural and Rural Development Bank - if the assessee is having a valid registration u/s 8 of the KCS Act, the authorities under the IT Act have to extend the benefit of deduction provided u/s 80P , by reason of sub-section (4) thereof, to such societies - HELD THAT - Delay condoned. Leave granted. Issue notice on the prayer for stay.

Summary

The Supreme Court condoned delay, granted leave, and issued notice on the prayer for stay in the case. Justices Rohinton Fali Nariman and Surya Kant presided over the judgment.