{"id":10982,"date":"2020-04-02T07:23:36","date_gmt":"2020-04-02T07:23:36","guid":{"rendered":"http:\/\/itatonline.org\/digest\/chirakara-service-co-operative-bank-ltd-v-ito-2020-77-itr-457-cochintrib-pangode-service-co-operative-bank-ltd-v-ito-2020-77-itr-33-sn-cochintrib-andoorkonam-service-co-operative-b\/"},"modified":"2020-04-02T07:23:36","modified_gmt":"2020-04-02T07:23:36","slug":"chirakara-service-co-operative-bank-ltd-v-ito-2020-77-itr-457-cochintrib-pangode-service-co-operative-bank-ltd-v-ito-2020-77-itr-33-sn-cochintrib-andoorkonam-service-co-operative-b","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/chirakara-service-co-operative-bank-ltd-v-ito-2020-77-itr-457-cochintrib-pangode-service-co-operative-bank-ltd-v-ito-2020-77-itr-33-sn-cochintrib-andoorkonam-service-co-operative-b\/","title":{"rendered":"Chirakara Service Co-Operative Bank Ltd. v. ITO (2020) 77 ITR 457 (Cochin)(Trib.) Pangode Service Co-Operative Bank Ltd. v. ITO (2020) 77 ITR 33 (SN) (Cochin)(Trib.) Andoorkonam Service Co-Operative Bank Ltd. v. ITO (2020) 77 ITR 33 (SN) (Cochin)(Trib.) Varkala Service Co-Operative Bank Ltd. v. ITO (2020) 77 ITR 33 (SN) (Cochin)(Trib.)"},"content":{"rendered":"<p>Tribunal held that the CIT(A) ought not to have rejected the claim of deduction under s. \u00a080P(2)\u00a0without examining the activities of the assessee. The Full Bench of the High Court had held that the AO had to conduct an inquiry into the factual situation as to the activities of the assessee to determine the eligibility of deduction under S. \u00a080P. Accordingly as \u00a0\u00a0as regards the grant of deduction under S. \u00a080P\u00a0on interest on investments with co-operative banks and other banks, the AO shall follow the law laid down by the Full Bench of the High Court in\u00a0 Mavilayi Service Co-Operative Bank L td. v. CIT (2019) 414 ITR 67 \/ 309 CTR 121 \/179 DTR 65 (FB) (Ker.)(HC) \u00a0and examine the activities of the assessee before granting deduction under S. 80P on such interest. (AY.2015-16), <em>(<\/em>AYs. 2008-09, 2011-12, 2012-13, 2014-15, 2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 80P : Co-operative societies-Certificate issued by Registrar of Co-Operative Societies  is not binding on AO\u2013Interest on investments with Co-Operative Banks-AO  is to follow law laid down by full bench of  Kerala High Court  in Mavilayi Service Co-Operative Bank Ltd. v. CIT (2019) 414 ITR 67 (FB) (Ker.)(HC) [S.80P(2)(4)] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10982","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2R8","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=10982"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10982\/revisions"}],"predecessor-version":[{"id":10983,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10982\/revisions\/10983"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=10982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=10982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=10982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}