Assessee was a co-operative society. AO\u00a0 denied deduction under S. 80P to assessee on two heads viz., (i) large deduction under chapter VI-A from total income and (ii) low income in comparison to high loans\/advances\/investment in shares appearing in balance sheet. Assessee filed the writ petition. Court held that regarding first issue, High Court in two decisions had already held that cooperative societies akin to writ petitioner were entitled to claim deductions under various heads adumbrated under section 80P but SLP was pending against said decisions. Accordingly the assessee sought to opt for alternative remedy of appeal in respect of second issue. writ petition was to be disposed of, leaving it open to writ petitioner to avail alternate remedy of statutory appeal to CIT(A) (CIT\u00a0Salem v.\u00a0Tiruchengode Agricultural Producers Cooperative Marketing Society Ltd.\u00a0(T CNos. 484 & 487 of 2016, dt. 2-8-2016], based on judgment in\u00a0CIT\u00a0v.\u00a0Veerakeralam Primary Agricultural Co-operative Credit Society\u00a0[2016]388 ITR 482 (Mad) (HC) Nerinjipettai Primary Agricultural Co-operative Credit Society Ltd.\u00a0v.\u00a0ITO\u00a0in W.P. No. 2552 of 2019 dt. 27-6-2019 (Mad.)(HC) (AY. 2016-17)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 80P : Co-operative societies\u2013Denial of exemption-Alternative remedy \u2013 Directed to avail alternative remedy u\/s. 246A of the Act. [S. 246A, Art. 226, Tamil Nadu Cooperative Societies Act, 1983]<\/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-9527","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2tF","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/9527","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=9527"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/9527\/revisions"}],"predecessor-version":[{"id":9528,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/9527\/revisions\/9528"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=9527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=9527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=9527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}