https://www.taxtmi.com/caselaws?id=250021 A co-operative credit society was held not to fall within the section 80P(4) exclusion because it was not a co-operative bank, lacking a banking licence and not shown to be a State Co-operative Bank, Central Co-operative Bank, or Primary Co-operative Bank. Merely providing credit facilities to members and earning interest and dividend did not alter its character. On that basis, the society remained eligible for deduction under section 80P, and the Revenue's challenge failed. en-us Mon, 30 Jun 2014 00:00:00 +0530 Thu, 31 Jul 2014 14:40:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250021 A co-operative credit society was held not to fall within the section 80P(4) exclusion because it was not a co-operative bank, lacking a banking licence and not shown to be a State Co-operative Bank, Central Co-operative Bank, or Primary Co-operative Bank. Merely providing credit facilities to members and earning interest and dividend did not alter its character. On that basis, the society remained eligible for deduction under section 80P, and the Revenue's challenge failed. Case-Laws Income Tax Mon, 30 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250021