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TMI Blog2013 (1) TMI 571X X X X Extracts X X X X X X X X Extracts X X X X ..... only - Held that:- As decided in CIT, Muzaffarnagar Versus Muzaffarnagar District Co-Operative Bank Ltd. [2012 (12) TMI 493 - ALLAHABAD HIGH COURT] & Commissioner Of Income Tax, Ghaziabad Vs. M/s Ghaziabad Zila Sahkari Bank, Ghaziabad [2013 (1) TMI 553 - ALLAHABAD HIGH COURT] & [2013 (1) TMI 552 - ALLAHABAD HIGH COURT] that the income arising out of banking activities by Cooperative Bank is exempt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 16,71,593/- received from non-members despite the fact that clause 41 of the bye laws of the society clearly mentioned that loans and advances be given to women members only? (2) Whether on the facts and circumstances of the case, the Tribunal is justified in law in ignoring the bye laws of the assessee especially clause 41 wherein it had been specifically been mentioned that loans and advances ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - assessee preferred an appeal before the Commissioner of Income Tax (Appeals) Muzaffarnagar, who vide order dated 14.8.2008 had allowed the appeal and granted full exemption. The Revenue Department feeling aggrieved filed an appeal before the Tribunal which has been decided by the impugned order. We have heard Sri Dhananjay Awasthi, learned Senior Standing Counsel for the Revenue. We find tha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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