AA 713 THE KODUMUDI Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) We have heard the learned counsel on either side.

(2.) The appellant is Kodumudi Growers Cooperative Bank Limited, a society registered under the provisions of the Tamil Nadu Cooperative Societies Act, 1983 (hereinafter called the TNCS Act, 1983). The appellant filed this appeal under section 260A of the Income Tax Act, 1961 (for brevity, the IT Act) challenging the correctness of the order passed by the Income Tax Appellate Tribunal, Madras 'D' Bench in ITA.No.220/Mds/2008 dated 19.3.2008 for the assessment year 2005-06.

(3.) The appeal was admitted on 110.2008 on the following substantial question of law :