2023 (6) TMI 1144 - SCH - Income Tax

Entitlement to deduction u/s 80P(2)(a) and (d) - Whether assessee, a co-operative credit society and is not a bank for the purpose of Section 80P(4) ? - HELD THAT - Assessee cannot be termed as Banks/Cooperative Banks and that being a credit society, they are entitled to exemption under Section 80(P)(2) In view of the order passed by this Court in M/S. ANNASAHEB PATIL MATHADI KAMGAR SAHAKARI PATHPEDI LIMITED 2023 (5) TMI 372 - SC ORDER by which the issue involved in the present petition is held to be against the Revenue and in favour of the Assessee, the present Special Leave Petition deserves to be dismissed and is accordingly dismissed. Pending applications shall stand disposed of.

Summary

The Supreme Court of India dismissed the Special Leave Petition as the issue was held against the Revenue and in favor of the Assessee in Civil Appeal No.8719/2022. Pending applications were disposed of.