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B. V. NAGARATHNA, UJJAL BHUYAN
Kerala State Co-Operative Agricultural and Rural Development Bank Ltd. KSCARDB – Appellant
Versus
Assessing Officer, Trivandrum – Respondent
| Table of Content |
|---|
| 1. factual background of the appellant and legislative context. (Para 2 , 3 , 4 , 5 , 6 , 7 , 8 , 9) |
| 2. arguments of both parties regarding the classification as co-operative bank. (Para 10) |
| 3. judicial principles and examination of relevant statutory provisions. (Para 11 , 12 , 13 , 14) |
JUDGMENT
Nagarathna, J.
Leave granted in those Special Leave Petitions where it has not yet been granted.
2. These appeals arise out of analogous proceedings against the appellant/assessee, and, inter alia, impugn the judgement dated 26.11.2015 passed by the Kerala High Court; the order dated 08.08.2016 passed by the Commissioner of Income Tax (Appeals), Trivandrum and the order dated 07.02.2019 passed by the Income Tax Appellate Tribunal (ITAT).
3. The issue involved in these cases is, whether, the appellant/assessee, a co-operative society, is entitled to claim deduction of the whole of its profits and gains of business attributable to the business of banking or providing credit facilities to its members who are all co-operative societies under Section 80P of the INCOME TAX ACT , 1961 (hereinafter referred to as "the Act", for the sake of brevity).
Since the question of law involved in
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