Bombay HC: Clarifies Procedure for Executing Foreign Decrees  ||  Supreme Court: Bureaucratic Delay No Excuse  ||  Supreme Court Grants Full Disability Pension Arrears to Veterans  ||  Delhi HC: Workman Cannot Claim Section 17(B) of the ID Act Wages after Reaching Superannuation Age  ||  Allahabad HC: Caste by Birth Remains Unchanged Despite Conversion or Inter-Caste Marriage  ||  Delhi High Court: Tweeting Corruption Allegations Against Employer Can Constitute Misconduct  ||  Delhi High Court: State Gratuity Authorities Lack Jurisdiction over Multi-State Establishments  ||  Kerala High Court: Arrest Grounds Need Not Mention Contraband Quantity When No Seizure is Made  ||  SC: Silence During Investigation Does Not Ipso Facto Mean Non-Cooperation to Deny Bail  ||  Supreme Court: High Courts Cannot Re-Examine Answer Keys Even in Judicial Service Exams    

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 2026 - All Rights Reserved