Bombay HC: Courts Cannot Mandate Mediation under Mediation Act 2023 Without Mutual Consent  ||  Kerala HC: Embassy NOC Not Required For Indian-Foreigner Marriage under Special Marriage Act  ||  MP High Court: Penalty May Stand if Misconduct is Proven, Even if Inquiry is Vitiated  ||  Bombay High Court: Lilavati Trust FIR Against HDFC Bank CEO Driven by Personal Vendetta  ||  Supreme Court: Register Entry Not Required To Pursue Oppression/Mismanagement Claims  ||  Supreme Court: Lifting Corporate Veil May Include Group Assets in Holding Company’s CIRP  ||  Allahabad HC: MPs, Judges and Ministers May Use ‘Hon’ble’; Civil Servants are Not Entitled to it  ||  Calcutta HC: Salary Withholding and Harassment Claims are Not Defamation Without Reputational Harm  ||  Gauhati HC: Officer Resigning Without New Govt Appointment Cannot Claim Pension under Assam Service  ||  MP HC: Attachment & Auction are Quasi-Judicial Duties of Tehsildar; Action Invalid Without Mala Fide    

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