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High Court of Bombay at Goa Dismisses Co-operative Society's Tax Appeals — Primary Co-operative Bank Excluded from Section 80P Deduction. Appellant's claim for deduction under Section 80P(2)(a)(i) denied as it is a Primary Co-operative Bank hit by Section 80P(4) of the Income Tax Act, 1961.

The case involves three tax appeals filed by M/s. The Quepem Urban Co-operative Credit Society Ltd. against the common order of the Income Tax Appella...

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Bombay High Court Upholds Circular Requiring Audit by Chartered Accountants or Certified Auditors in Cooperative Societies. Section 81(1)(a) of Maharashtra Cooperative Societies Act, 1960 empowers Registrar to prescribe auditor qualifications, and the circular is a valid general order.

The judgment concerns two writ petitions challenging a circular dated 11th November 1996 issued by the Government of Maharashtra under Section 81(1)(a...