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![Cooperative Credit Society Eligible for Income Tax Exemption u/s 80(P)(2) of Income Tax Act: Supreme Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Cooperative-Credit-Society-Income-Tax-Exemption-Income-Tax-Act-Supreme-Court-TAXSCAN.jpg "Cooperative Credit Society Eligible for Income Tax Exemption u/s 80(P)(2) of Income Tax Act: Supreme Court [Read Order]")
Cooperative Credit Society Eligible for Income Tax Exemption u/s 80(P)(2) of Income Tax Act: Supreme Court [Read Order]
In a major decision the Supreme Court of India ruled that the cooperative credit society is eligible for income tax exemption under Section 80(P)(2)...
![Supreme Court allows Section 80P Deduction to Co-op Credit Societies despite Loans to Nominal Members [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/01/Supreme-Court-section-80P-deduction-co-op-credit-societies-despite-loans-nominal-members-Taxscan.jpeg "Supreme Court allows Section 80P Deduction to Co-op Credit Societies despite Loans to Nominal Members [Read Judgment]")
![Telangana High Court quashes FIC’s resolution declaring former Chairman and MD, as ‘fraud’ and ‘willful defaulter’ [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/12/Telangana-High-Court-FIC-resolution-declaring-Managing-Director-fraud-willful-defaulter-Taxscan.jpeg "Telangana High Court quashes FIC’s resolution declaring former Chairman and MD, as ‘fraud’ and ‘willful defaulter’ [Read Order]")
Relief to Standard Chartered Bank: ITAT deletes disallowance of Expenses out of Dividend Income [Read Order]
The Income Tax Appellate Tribunal (ITAT), New Delhi Bench owing to the procedural trouble deleted disallowance of Expenses out of Dividend Income. The assessee, Standard Chartered Grindlays Bank...
![Relief to Standard Chartered Bank: ITAT deletes disallowance of Expenses out of Dividend Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/11/Standard-Chartered-Bank-ITAT-disallowance-Expenses-Dividend-Income-Taxscan.jpg "Relief to Standard Chartered Bank: ITAT deletes disallowance of Expenses out of Dividend Income [Read Order]")
![President approves Banking Ordinance on Non-Performing Assets [Read Ordinance]](https://www.taxscan.in/wp-content/uploads/2017/05/Pranab-Mukherjee.jpg "President approves Banking Ordinance on Non-Performing Assets [Read Ordinance]")
Deduction u/s 80P(4) is not allowable to Co-operative Marketing Society: Madras HC [Read Judgment]
In a recent ruling, the Madras High Court held that the deduction under section 80P(4) of the Income Tax Act, 1961 cannot be extended to a Co-operative Marketing Society since the same is confined to...
![Deduction u/s 80P(4) is not allowable to Co-operative Marketing Society: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/09/Madras-High-Court-Taxscan.jpg "Deduction u/s 80P(4) is not allowable to Co-operative Marketing Society: Madras HC [Read Judgment]")