https://www.taxtmi.com/caselaws?id=251237 Section 80P(2)(a)(i) allows deduction to a co-operative society carrying on banking or credit activities for members, but section 80P(4) excludes only a society that satisfies the statutory definition of a co-operative bank. That definition requires, among other conditions, that the bye-laws do not permit admission of another co-operative society as a member. The assessee's objects and deposits suggested banking activity, but the bye-laws were not on record, so the third statutory condition could not be verified. The matter was remanded to the Assessing Officer to examine the bye-laws and determine whether section 80P(4) applied; deduction would depend on whether another co-operative society could be admitted as a member. en-us Fri, 28 Feb 2014 00:00:00 +0530 Mon, 08 Sep 2014 10:46:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251237 Section 80P(2)(a)(i) allows deduction to a co-operative society carrying on banking or credit activities for members, but section 80P(4) excludes only a society that satisfies the statutory definition of a co-operative bank. That definition requires, among other conditions, that the bye-laws do not permit admission of another co-operative society as a member. The assessee's objects and deposits suggested banking activity, but the bye-laws were not on record, so the third statutory condition could not be verified. The matter was remanded to the Assessing Officer to examine the bye-laws and determine whether section 80P(4) applied; deduction would depend on whether another co-operative society could be admitted as a member. Case-Laws Income Tax Fri, 28 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251237