https://www.taxtmi.com/caselaws?id=382021 The Division Bench of the High Court ruled in favor of the Cooperative Societies, holding that primary agricultural credit societies are entitled to deductions under Section 80P of the Income Tax Act, 1961. The court emphasized the distinction between cooperative banks and primary agricultural credit societies, setting aside the impugned notices issued by the Revenue authorities. The court decided to keep the notices in abeyance pending the outcome of Special Leave Petitions filed by the Revenue in the Supreme Court. If the petitions favored the Revenue, the impugned orders would stand revived; otherwise, the notices would be set aside without further court reference. en-us Tue, 11 Jun 2019 00:00:00 +0530 Sun, 07 Jul 2019 13:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382021 The Division Bench of the High Court ruled in favor of the Cooperative Societies, holding that primary agricultural credit societies are entitled to deductions under Section 80P of the Income Tax Act, 1961. The court emphasized the distinction between cooperative banks and primary agricultural credit societies, setting aside the impugned notices issued by the Revenue authorities. The court decided to keep the notices in abeyance pending the outcome of Special Leave Petitions filed by the Revenue in the Supreme Court. If the petitions favored the Revenue, the impugned orders would stand revived; otherwise, the notices would be set aside without further court reference. Case-Laws Income Tax Tue, 11 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382021