Co-operative society providing Credits for Agricultural Purposes can be classified as Primary Agricultural Credit Society: Kerala HC set aside Income Tax Assessment Rejecting Deduction u/s 80 P

Co-operative society - providing Credits for Agricultural Purposes - Primary Agricultural Credit Society - KERALA HIGH COURT - Income Tax Assessment - Rejecting Deduction Under Section 80 P - TAXSCAN

In a significant case, the Kerala High Court held that a Co-operative society providing Credits for Agricultural Purposes can be classified as a Primary Agricultural Credit Society and set aside the Income Tax Assessment which rejected the claim of deduction under Section 80 P of the Income Tax Act, 1961.s Malanad Service Co-operative Bank Ltd.,…

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