Are certain Co-operative Banks like Saraswat Bank etc, a Co-operative society

Are certain Co-operative Banks like Saraswat Bank etc, a Co-operative society https://www.taxtmi.com/forum/issue?id=108502 The central issue is whether cooperative banks qualify as co operative societies for the purpose of the cooperative society interest deduction. The assessing officer treats such banks as not being cooperative societies, denying full deduction to cooperative housing societies on interest received; the taxpayer relies on cooperative statutes classifying cooperative banks as societies, which-if accepted-would render the interest eligible for the deduction. en-us Mon, 27 Apr 2015 16:45:36 +0530 Thu, 23 Jan 2025 15:56:55 +0530 TaxTMI RSS Generator Are certain Co-operative Banks like Saraswat Bank etc, a Co-operative society https://www.taxtmi.com/forum/issue?id=108502 The central issue is whether cooperative banks qualify as co operative societies for the purpose of the cooperative society interest deduction. The assessing officer treats such banks as not being cooperative societies, denying full deduction to cooperative housing societies on interest received; the taxpayer relies on cooperative statutes classifying cooperative banks as societies, which-if accepted-would render the interest eligible for the deduction. Discussion-Forum Income Tax Mon, 27 Apr 2015 16:45:36 +0530 https://www.taxtmi.com/forum/issue?id=108502