High Court of Karnataka Dismisses Revenue's Appeal in Co-operative Society Tax Exemption Case — Profits Paid to Members Eligible for Deduction Under Section 80P(2)(d) of Income Tax Act, 1961. The court held that a co-operative society assessed as a 'person' under Section 2(31) is entitled to claim deduction on profits paid to its members under Section 80P(2)(d).
19 Nov 2016The Revenue appealed against the order of the Income Tax Appellate Tribunal, Panaji Bench, which had allowed the assessee's claim for deduction under ...
