https://www.taxtmi.com/caselaws?id=254043 A co-operative society falls outside section 80P(2)(a)(i) once it satisfies the statutory definition of a primary co-operative bank under the Banking Regulation Act, 1949; where the society's principal business is banking, its share capital and reserves meet the threshold, and its bye-laws exclude admission of another co-operative society as a member, section 80P(4) applies and the deduction is not available. A disallowance under section 43B cannot be sustained for audit fee, as that liability is not tax, duty, cess, or a fee covered by the provision, and the addition was deleted. en-us Wed, 26 Nov 2014 00:00:00 +0530 Thu, 11 Dec 2014 05:56:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254043 A co-operative society falls outside section 80P(2)(a)(i) once it satisfies the statutory definition of a primary co-operative bank under the Banking Regulation Act, 1949; where the society's principal business is banking, its share capital and reserves meet the threshold, and its bye-laws exclude admission of another co-operative society as a member, section 80P(4) applies and the deduction is not available. A disallowance under section 43B cannot be sustained for audit fee, as that liability is not tax, duty, cess, or a fee covered by the provision, and the addition was deleted. Case-Laws Income Tax Wed, 26 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254043