https://www.taxtmi.com/caselaws?id=240572 A co-operative society is outside section 80P(4) only if it satisfies the statutory test of a co-operative bank under the Banking Regulation Act; since the assessee's bye-laws allowed other co-operative societies as members and its objects were broader than banking, it was not hit by section 80P(4) and could claim section 80P(2)(a)(i). Locker rent was not income from providing credit facilities and was ineligible, while claims relating to certain provisions and joint venture interest were remanded for factual verification of the membership and income nexus. Unexplained cash credits were sustained under section 68, but because the receipts arose from the credit-facility business, deduction under section 80P(2)(a)(i) was directed to be allowed. en-us Fri, 23 Nov 2012 00:00:00 +0530 Thu, 25 May 2017 13:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240572 A co-operative society is outside section 80P(4) only if it satisfies the statutory test of a co-operative bank under the Banking Regulation Act; since the assessee's bye-laws allowed other co-operative societies as members and its objects were broader than banking, it was not hit by section 80P(4) and could claim section 80P(2)(a)(i). Locker rent was not income from providing credit facilities and was ineligible, while claims relating to certain provisions and joint venture interest were remanded for factual verification of the membership and income nexus. Unexplained cash credits were sustained under section 68, but because the receipts arose from the credit-facility business, deduction under section 80P(2)(a)(i) was directed to be allowed. Case-Laws Income Tax Fri, 23 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240572