https://www.taxtmi.com/caselaws?id=256977 Section 80P(4) applies only to a co-operative bank satisfying the statutory conditions of a primary co-operative bank under the Banking Regulation Act, including principal business as banking, minimum paid-up share capital and reserves, and bye-laws excluding admission of other co-operative societies as members. On the society's bye-laws and governing statute, its activities were confined to members, it did not accept public deposits, and membership of other co-operative societies was permitted, so those conditions were not cumulatively met. The society was therefore not a co-operative bank within section 80P(4) and remained eligible for deduction under section 80P(2)(a)(i) in respect of income from providing credit facilities to its members. en-us Fri, 28 Feb 2014 00:00:00 +0530 Thu, 26 Feb 2015 11:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256977 Section 80P(4) applies only to a co-operative bank satisfying the statutory conditions of a primary co-operative bank under the Banking Regulation Act, including principal business as banking, minimum paid-up share capital and reserves, and bye-laws excluding admission of other co-operative societies as members. On the society's bye-laws and governing statute, its activities were confined to members, it did not accept public deposits, and membership of other co-operative societies was permitted, so those conditions were not cumulatively met. The society was therefore not a co-operative bank within section 80P(4) and remained eligible for deduction under section 80P(2)(a)(i) in respect of income from providing credit facilities to its members. Case-Laws Income Tax Fri, 28 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256977