https://www.taxtmi.com/caselaws?id=216480 A co-operative credit society remains distinct from a co-operative bank for section 80P(4) of the Income-tax Act, 1961, because the term "co-operative bank" is adopted by reference to the Banking Regulation Act, 1949 and must be strictly construed. Mere banking-like activities do not convert a credit society into a co-operative bank unless the statutory definition is satisfied. The withdrawal of deduction therefore applies only to entities falling within the defined category of co-operative bank, and a credit society is entitled to deduction under section 80P(2)(a)(i). en-us Tue, 26 Jun 2012 00:00:00 +0530 Thu, 14 Aug 2025 11:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216480 A co-operative credit society remains distinct from a co-operative bank for section 80P(4) of the Income-tax Act, 1961, because the term "co-operative bank" is adopted by reference to the Banking Regulation Act, 1949 and must be strictly construed. Mere banking-like activities do not convert a credit society into a co-operative bank unless the statutory definition is satisfied. The withdrawal of deduction therefore applies only to entities falling within the defined category of co-operative bank, and a credit society is entitled to deduction under section 80P(2)(a)(i). Case-Laws Income Tax Tue, 26 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216480