https://www.taxtmi.com/caselaws?id=245884 Section 80P(4) excludes only a co-operative bank, not every co-operative society. A co-operative credit society that has no RBI banking licence and provides credit facilities only to its members does not become a bank merely by carrying on such activity, so it remains eligible for deduction under section 80P. The text also states that appellate authorities can entertain a legal claim for deduction even if it was not made in the return of income, because the limitation applicable to the assessing authority does not restrict appellate powers. On that basis, the Revenue challenge failed and the deduction under section 80P was sustained. en-us Fri, 28 Mar 2014 00:00:00 +0530 Fri, 11 Apr 2014 11:36:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245884 Section 80P(4) excludes only a co-operative bank, not every co-operative society. A co-operative credit society that has no RBI banking licence and provides credit facilities only to its members does not become a bank merely by carrying on such activity, so it remains eligible for deduction under section 80P. The text also states that appellate authorities can entertain a legal claim for deduction even if it was not made in the return of income, because the limitation applicable to the assessing authority does not restrict appellate powers. On that basis, the Revenue challenge failed and the deduction under section 80P was sustained. Case-Laws Income Tax Fri, 28 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245884