Supreme Court: SC/ST Act Does Not Apply to Alleged Casteist Abuse Inside a Private House  ||  Supreme Court: Frictionless Relationship Between the Bar and the Bench Strengthens Justice Delivery  ||  Delhi High Court: Eviction From Jhuggis With Rehabilitation Does Not Violate Article 21  ||  Madras HC: Courts Cannot Remain Silent When Single Disputed Vote Could Determine Government’s Fate  ||  Allahabad HC Blamed State and Police For Delays and Ordered Reforms to Tackle “Tarikh Pe Tarikh”  ||  Supreme Court: Banks Cannot Invoke IBC Against Debtors For Builder-Linked Loans  ||  Supreme Court: Non-Disclosure of Failed Candidates’ Marks Does Not Imply They Passed Exams  ||  Supreme Court: Murder Accused Cannot Inherit Property of the Person Allegedly Killed  ||  Supreme Court: Delay in Deposit Does Not Automatically Cancel Contracts under Specific Relief Act  ||  SC: Railways is Treated as a Consumer under the Electricity Act, Not a Distribution Licensee    

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