https://www.taxtmi.com/caselaws?id=396135 The High Court ruled that entities registered under the Karnataka Souharda Sahakari Act, 1997 qualify as a "co-operative society" under Section 2(19) of the Income Tax Act, 1961, entitling them to benefits under Section 80P. The assessment order freezing the petitioner's bank accounts was deemed illegal and in violation of constitutional provisions, leading to its quashing. The Court applied the principle of parity from previous cases to grant relief to the petitioner, ensuring consistency. By declaring the denial of cooperative society status unconstitutional, the Court upheld legal standards and directed a fresh assessment treating the petitioner as eligible for Section 80P benefits. en-us Wed, 10 Jun 2020 00:00:00 +0530 Sat, 13 Mar 2021 13:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396135 The High Court ruled that entities registered under the Karnataka Souharda Sahakari Act, 1997 qualify as a "co-operative society" under Section 2(19) of the Income Tax Act, 1961, entitling them to benefits under Section 80P. The assessment order freezing the petitioner's bank accounts was deemed illegal and in violation of constitutional provisions, leading to its quashing. The Court applied the principle of parity from previous cases to grant relief to the petitioner, ensuring consistency. By declaring the denial of cooperative society status unconstitutional, the Court upheld legal standards and directed a fresh assessment treating the petitioner as eligible for Section 80P benefits. Case-Laws Income Tax Wed, 10 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396135