https://www.taxtmi.com/caselaws?id=251129 The Tribunal determined that the assessee did not meet the criteria to be classified as a primary co-operative bank under section 80P(4) of the Income Tax Act, thus not considered a co-operative bank. However, the assessee qualified for deduction under section 80P(2)(a)(i) as it engaged in banking activities and provided credit facilities to its members. Consequently, the Tribunal upheld the decision allowing the deduction, dismissing the Revenue's appeals and deeming the assessee's cross-objections infructuous. The order was pronounced on 11.04.2014. en-us Fri, 11 Apr 2014 00:00:00 +0530 Fri, 05 Sep 2014 06:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251129 The Tribunal determined that the assessee did not meet the criteria to be classified as a primary co-operative bank under section 80P(4) of the Income Tax Act, thus not considered a co-operative bank. However, the assessee qualified for deduction under section 80P(2)(a)(i) as it engaged in banking activities and provided credit facilities to its members. Consequently, the Tribunal upheld the decision allowing the deduction, dismissing the Revenue's appeals and deeming the assessee's cross-objections infructuous. The order was pronounced on 11.04.2014. Case-Laws Income Tax Fri, 11 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251129