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TMI Blog2021 (10) TMI 1413X X X X Extracts X X X X X X X X Extracts X X X X ..... at they would be entitled to stake their claim for exemption under Section 80-P. In view of the decision of M/s. Swabhimani Souharda Credit Cooperative Ltd.,(supra), we are of considered opinion that the impugned Assessment Order at Annexure-E is erroneous and illegal and therefore, deserves to be quashed and the matter be remitted back for re-consideration afresh in accordance with law, bearing in mind the observations and findings recorded in this order. Decided in favour of assessee. X X X X Extracts X X X X X X X X Extracts X X X X ..... he petitioner's case - Annexure-J. g) Issue writ of declaration or writ in the nature of declaration declaring that the co-operation registered under the Karnataka Souharda Sahakari Act, 1997 are also co-operative societies under the Karnataka Co-operative Society Act, 1959. h) Issue any other Writ or directions deemed fit in the facts and circumstances of the case in the interest of justice and equity." 2. Heard learned counsel for the petitioner, learned HCGP for respondent No.3 and learned counsel for respondent Nos.1 and 2 and perused the material on record. 3. In addition to reiterating the various contentions urged in the Memorandum of Petition and referring to the various documents produced by the petitioner, learne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iety, registered under the Karnataka Souharda Sahakari Act, 1997. In the case of M/s. Swabhimani Souharda Credit Cooperative Ltd.,(supra), this Court has come to the conclusion that even a Society registered under the said Act of 1997, is a Co-operative Society within the meaning of Sec.2(19) of the IT Act, 1961 for the purpose of Section 80-P and consequently, the petitioner-Society would be entitled to exemption under Section 80-P of the said Act, 1961 as held by this Court in the aforesaid decision. In the case of M/s. Swabhimani Souharda Credit Co-operative Ltd.,(supra), this Court has held as under: "In the above circumstances, these writ petitions succeed; a declaration is made to the effect that the entities registered under t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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