Exclusion of cooperative banks from section 80P benefits, except primary agricultural credit societies and co operative agricultural and rural development banks. The amendment removes the section 80P tax concession for cooperative banks except for primary agricultural credit societies and primary co-operative agricultural and rural development banks, effective 1 April 2007; it adopts definitions from Part V of the Banking Regulation Act, 1949 for 'co-operative bank' and 'primary agricultural credit society' and defines the primary co-operative agricultural and rural development bank as a taluk-confined society whose principal object is providing long-term credit for agricultural and rural development.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exclusion of cooperative banks from section 80P benefits, except primary agricultural credit societies and co operative agricultural and rural development banks.
The amendment removes the section 80P tax concession for cooperative banks except for primary agricultural credit societies and primary co-operative agricultural and rural development banks, effective 1 April 2007; it adopts definitions from Part V of the Banking Regulation Act, 1949 for "co-operative bank" and "primary agricultural credit society" and defines the primary co-operative agricultural and rural development bank as a taluk-confined society whose principal object is providing long-term credit for agricultural and rural development.
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