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P.K.BANSAL, D.T.GARASIA
Income-tax Officer, Ward-1 (3),Belgaum – Appellant
Versus
Shri Durdundeshwar Urban Co-operative Credit Society Ltd. – Respondent
P.K. Bansal, Accountant Member - This appeal has been filed by the revenue against the order of CIT(A), Belgaum dtd. 01.11.2013 for the assessment year 2010-11 by taking the following grounds of appeal :—
"1. The learned CIT(Appeals) erred in law and on facts in not appreciating the fact that the assessee is a co-operative society which fulfills all the three conditions of being held a Primary Co-operative Bank as given in section 5(ccv) of the Banking Regulation Act, 1949.
2. The learned CIT(Appeals) erred in relying on the provisions of the Karnataka Societies Act, 1959 which gives the definition of a "co-operative society" to mean a society registered or deemed to be registered under that Act. The above definition of co-operative society appears in the Karnataka Co-operative Societies Act, 1959 and the definition of co-operative society means a society registered under that Act.
3. The learned CIT(Appeals) erred in law and on facts in relying on this definition which was applicable to the Karnataka Co-operative Societies Act, 1959 only to deem it to include co-operative societies under the Karnataka Societies Registration Act, 1960. The Karnataka Societies Registration Act, 19
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