Claim of Deduction u/s 80P (2) of Income Tax Act by Co-op Society cannot be Denied on Breach of Principle of Mutuality or Violation of Bye Law: ITAT [Read Order]

By Fathima Karama A.M - On August 30, 2023 12:36 pm - 2 mins read
Claim of Deduction - Income Tax Act by Co-op Society -Deduction- Breach of Principle of Mutuality - Violation of Bye Law - ITAT - taxscan

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the claim of deduction under Section 80P (2) of Income Tax Act 1961 by cooperative society could not be denied on breach of principle of mutuality or violation of bye law. The assessee, Middle Income Group Co. Op. Hsg. Soc. Ltd, was a…

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