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Income Tax - Highlights / Catch Notes

Home Highlights September 2013 Year 2013 This

Deduction u/s 80P(2)(a)(i) - Spcial auditor u/s 142A concluded ...


Assessee Society Qualifies for Tax Exemption u/s 80P(2)(a)(i) Despite Not Being a Cooperative Bank or Credit Society.

September 19, 2013

Case Laws     Income Tax     AT

Deduction u/s 80P(2)(a)(i) - Spcial auditor u/s 142A concluded that the assessee was not a primary agricultural credit society and was also not a cooperative bank - Once the primary activity of providing loans to its members has been undertaken by the assessee society, its entitlement for exemption u/s 80P(2)(a)(i) of the Act merits to be allowed. - AT

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