Kerala HC Upholds Life Terms For Five, Acquits Two in Renjith Johnson Murder, Says TIP Not Needed  ||  Kerala HC Orders Emergency Electric Fencing at Tribal School to Address Rising Wildlife Conflict  ||  Madras HC: Arbitrator Can’t Pierce Corporate Veil to Bind Non-Signatory and Partly Sets Aside Award  ||  Calcutta HC: Post-Award Claim For Municipal Tax Reimbursement is Not Maintainable under Section 9  ||  Tripura HC: Tax Authorities Cannot Revive Repealed VAT Powers or Retain Deposits Without Law  ||  J&K&L HC: Obtaining a Passport is a Constitutional Right; Citizens Need Not Prove Travel Necessity  ||  Allahabad HC: Police Report in Non-Cognizable Offence is a Complaint; Accused Must Be Heard First  ||  Kerala HC: Hospitals Must Display Rates and Cannot Deny Emergency Care For Lack of Advance Payment  ||  Orissa HC: Convict’s Refusal to Appeal Through Legal Aid Must be Recorded in Writing  ||  SC Halts Deer Translocation From Delhi’s AN Jha Park And Orders a Probe into DDA Negligence    

SC: Non Banking Cooperative Society Providing Credit to Members Eligible for Section 80P Deduction - (15 Sep 2023)

DIRECT TAXATION

Supreme Court has held that a co-operative society that is not a co-operative bank under Section 56 of Banking Regulation Act, 1949, then such society giving credit facilities to members doesn’t transact the business of banking and is eligible for deduction under Section 80P of the Income Tax Act.

Tags : SUPREME COURT   COOPERATIVE SOCIETY   BANKING   DEDUCTION  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved