https://www.taxtmi.com/caselaws?id=248802 A primary agricultural co-operative credit society remained eligible for deduction under section 80P(2)(a)(i) where credit was extended to Class-B or associate members. Section 2(16) of the Tamil Nadu Co-operative Societies Act, 1983 treats an associate member as a member, so such borrowers could not be treated as outsiders. Tax authorities cannot create a further Class-A/Class-B distinction within the statutory definition of member to restrict the deduction. The provision for deduction under section 80P(2)(a)(i) was construed liberally, and internal distinctions such as voting rights did not affect eligibility where the governing statute includes associate members within membership. en-us Mon, 09 Jun 2014 00:00:00 +0530 Wed, 25 Jun 2014 15:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248802 A primary agricultural co-operative credit society remained eligible for deduction under section 80P(2)(a)(i) where credit was extended to Class-B or associate members. Section 2(16) of the Tamil Nadu Co-operative Societies Act, 1983 treats an associate member as a member, so such borrowers could not be treated as outsiders. Tax authorities cannot create a further Class-A/Class-B distinction within the statutory definition of member to restrict the deduction. The provision for deduction under section 80P(2)(a)(i) was construed liberally, and internal distinctions such as voting rights did not affect eligibility where the governing statute includes associate members within membership. Case-Laws Income Tax Mon, 09 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248802