SC: Daily-Wage Status Cannot Deny Annual Increment After Regularisation  ||  SC: Exam Marks Cannot Substitute Mandatory Qualification under Recruitment Rules  ||  SC: Converting Civil Disputes Into Criminal Cases is a Widespread Practice  ||  Kerala High Court Sets Aside KAAPA Preventive Detention Order Against BJP Councillor R Suguthan  ||  Bombay High Court Punishes Two Lawyers for Contempt over Threats to Trial Judge  ||  MP HC Plea Challenges Municipal Law Over Simhastha Kumbh Road Widening and Compensation  ||  Calcutta High Court Orders DNA Tests to Ascertain Biological Identity in Alleged Baby-Swap Case  ||  Bombay HC Confiscates Man's Phone for Filming Proceedings, Levies Rs. 10,000 Costs  ||  Bombay HC: Accused Must Be Produced Before Court on Plea to Extend Investigation Period  ||  Delhi High Court Directs Criminal Complaint Against Six CBI Officers for False Statement in Court    

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