https://www.taxtmi.com/caselaws?id=245442 The case focused on interpreting Section 80P(2)(a)(i) for deduction on income from Govt. Securities and classifying a Co-operative Society as a Co-operative Bank. The court upheld the deduction, emphasizing that the Co-operative Society, holding a valid banking license and following RBI guidelines, qualified for the deduction as the income from Govt. Securities was integral to its banking business. The court relied on Supreme Court decisions, including CIT vs. Nawanshahar Central Co-operative Bank Ltd., to support the allowance of the deduction under Section 80P(2)(a)(i). en-us Thu, 06 Mar 2014 00:00:00 +0530 Wed, 26 Oct 2016 17:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245442 The case focused on interpreting Section 80P(2)(a)(i) for deduction on income from Govt. Securities and classifying a Co-operative Society as a Co-operative Bank. The court upheld the deduction, emphasizing that the Co-operative Society, holding a valid banking license and following RBI guidelines, qualified for the deduction as the income from Govt. Securities was integral to its banking business. The court relied on Supreme Court decisions, including CIT vs. Nawanshahar Central Co-operative Bank Ltd., to support the allowance of the deduction under Section 80P(2)(a)(i). Case-Laws Income Tax Thu, 06 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245442