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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  

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