https://www.taxtmi.com/caselaws?id=245663 A co-operative society is excluded from section 80P only if it satisfies all statutory conditions of a primary co-operative bank under the Banking Regulation Act, including the requirement that its bye-laws do not permit admission of another co-operative society as a member. Where that condition is not met, section 80P(4) does not apply. The material also explains that income from accepting deposits and advancing loans to members may qualify for deduction under section 80P(2)(a)(i) when the society is engaged in providing banking or credit facilities to its members. en-us Fri, 28 Mar 2014 00:00:00 +0530 Fri, 04 Apr 2014 10:40:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245663 A co-operative society is excluded from section 80P only if it satisfies all statutory conditions of a primary co-operative bank under the Banking Regulation Act, including the requirement that its bye-laws do not permit admission of another co-operative society as a member. Where that condition is not met, section 80P(4) does not apply. The material also explains that income from accepting deposits and advancing loans to members may qualify for deduction under section 80P(2)(a)(i) when the society is engaged in providing banking or credit facilities to its members. Case-Laws Income Tax Fri, 28 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245663