https://www.taxtmi.com/caselaws?id=391218 HC held that entities registered under the Karnataka Souharda Sahakari Act, 1997 qualify as "co-operative societies" within sec. 2(19) of the Income-tax Act, 1961. The Court reasoned that both the 1959 and 1997 Acts confer body corporate status, perpetual succession, and are substantively based on co-operative principles, regardless of the absence of the word "society" in the title. Consequently, such entities are eligible to claim deduction under sec. 80P, subject to other statutory conditions. The writ petitions were allowed and the issue decided in favour of the assessee. en-us Thu, 16 Jan 2020 00:00:00 +0530 Sat, 22 Nov 2025 12:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391218 HC held that entities registered under the Karnataka Souharda Sahakari Act, 1997 qualify as "co-operative societies" within sec. 2(19) of the Income-tax Act, 1961. The Court reasoned that both the 1959 and 1997 Acts confer body corporate status, perpetual succession, and are substantively based on co-operative principles, regardless of the absence of the word "society" in the title. Consequently, such entities are eligible to claim deduction under sec. 80P, subject to other statutory conditions. The writ petitions were allowed and the issue decided in favour of the assessee. Case-Laws Income Tax Thu, 16 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391218