https://www.taxtmi.com/caselaws?id=249520 The Tribunal determined that the assessee, a co-operative society, did not qualify as a "co-operative bank" under Section 80P(4) of the Income Tax Act, 1961. As the assessee provided credit facilities exclusively to its members, it was eligible for deduction under Section 80P(2)(a)(i). Relying on judicial precedents, the Tribunal concluded that Section 80P(4) applies only to co-operative banks, not co-operative credit societies. Consequently, the assessee's appeals were allowed, and the Assessing Officer was directed to grant the deduction under Section 80P(2)(a)(i). en-us Fri, 04 Jul 2014 00:00:00 +0530 Wed, 16 Jul 2014 11:27:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249520 The Tribunal determined that the assessee, a co-operative society, did not qualify as a "co-operative bank" under Section 80P(4) of the Income Tax Act, 1961. As the assessee provided credit facilities exclusively to its members, it was eligible for deduction under Section 80P(2)(a)(i). Relying on judicial precedents, the Tribunal concluded that Section 80P(4) applies only to co-operative banks, not co-operative credit societies. Consequently, the assessee's appeals were allowed, and the Assessing Officer was directed to grant the deduction under Section 80P(2)(a)(i). Case-Laws Income Tax Fri, 04 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249520