Supreme Court: Courts Have Sometimes Failed Arbitration, With Interference Curing No Disease  ||  Supreme Court: Co-Heir Cannot Sell Other Heirs' Shares as Karta After Intestate Succession  ||  SC: Casual Labourers With Temporary Status are Eligible For Pension Even Without Regularisation  ||  Supreme Court: High Courts Must Record the Nature of Crime and Allegations While Quashing FIRs  ||  Delhi HC Rejected Pernod Ricard’s Plea Against Denial of Wholesale Liquor License over Excise Case  ||  Gujarat HC: Lalita Kumari Ruling Does Not Permit Deceased’s Kin to Invoke Art 226 For FIR Failure  ||  Ker HC: Denying Disability Pension to Army Personnel Based on Unreasoned Medical Opinion is Invalid  ||  Kerala HC Directs Family Courts to Follow Calcutta HC Custody Guidelines Till State Rules Framed  ||  Allahabad HC Allows LIC Employees to Be Engaged as Census Enumerators and Supervisors For Duties  ||  Supreme Court Unveiled Victim Protection Plan For Trafficking Survivors and Urged Legal Reforms    

ITAT: Co-Operative Society Providing Financial Help Without RBI License is Eligible for Exemption - (08 Jul 2022)

DIRECT TAXATION

Income Tax Appellate Tribunal (ITAT), Chennai Bench has held that the cooperative society providing financial accommodation to members without Reserve Bank of India (RBI) license for banking business is eligible for exemption under Section 80P(2)(a)(I) of Income-Tax Act, 1961.

Tags : ITAT   CO-OPERATIVE SOCIETY   RBI LICENSE   FINANCIAL ACCOMMODATION  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved