Kerala High Court: ED Can Investigate Without FIR in Scheduled Offence Cases (CMRL Matter)  ||  Delhi High Court Upholds TRAI Rule Capping TV Advertisements at 12 Minutes Per Hour  ||  Supreme Court Directs High Courts to Deliver Judgments in 3 Months and Bail Orders in One Day  ||  Supreme Court: Successful Resolution Applicant Cannot Negotiate Further After CoC Approval  ||  Supreme Court: Succession Law Applies, Not Primogeniture, to Ex-Royal’s Private Estate Inheritance  ||  Supreme Court: Writ Jurisdiction Cannot Challenge Arbitrator’s Section 16 Decision  ||  Supreme Court: Sanyasi Status Cannot Be Ground to Reject Land Compensation Claim  ||  Supreme Court: Section 33(1)(a) of Arbitration Act Cannot Alter Nature of Interest in Award  ||  Supreme Court: Society Office Bearers Not Liable for Cheque Dishonour Without Active Business Role  ||  Supreme Court: Asking a Woman to Adjust in Marriage Does Not Amount to Cruelty By In-Laws    

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