Deduction u/s 80P(4) allowable to Cooperative Society involved in the Business of Banking: Orissa HC [Read Order]

Cooperative - Society - Business - Banking - Orissa - HC - TAXSCAN

While considering a writ petition, the Orissa High Court (HC) has held that deduction under section 80P(4) of the Income Tax Act, 1961 is allowable to Cooperative Societies involved in the business of banking. Cuttack Central Co-operative Bank Ltd, the petitioner challenged the order dated 14th September 2012 passed by the Income Tax Appellate Tribunal,…

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