There is no reason why a co-operative society should file income tax return. We may examine the provision In the Income Tax Act 1961 which requires a person to ..
Article on Section 44AB of Income Tax Act 1961
CBDT press release on Section 269 ST which states that there is no restriction for withdrawal from Bank Deposit is not in consonance with the Section.
The Section deals with deduction in respect of income of Co-operative Societies
Section 269 ST proposed to be added to Income Tax Act 1961 affects the transactions not in the nature of deposits or loans only.