https://www.taxtmi.com/caselaws?id=260791 A credit co-operative society that provides credit facilities only to its members is not hit by section 80P(4) because that exclusion applies to co-operative banks, not to a society lacking the attributes of a co-operative bank. The Tribunal, relying on the CBDT clarification and binding High Court authority, treated the assessee as a co-operative society registered under the co-operative law and therefore within section 80P(2)(a)(i). The deduction under section 80P(2)(a)(i) is allowable where the entity is engaged in member-based credit activity and does not function as a co-operative bank. en-us Thu, 11 Jun 2015 00:00:00 +0530 Wed, 24 Jun 2015 09:56:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260791 A credit co-operative society that provides credit facilities only to its members is not hit by section 80P(4) because that exclusion applies to co-operative banks, not to a society lacking the attributes of a co-operative bank. The Tribunal, relying on the CBDT clarification and binding High Court authority, treated the assessee as a co-operative society registered under the co-operative law and therefore within section 80P(2)(a)(i). The deduction under section 80P(2)(a)(i) is allowable where the entity is engaged in member-based credit activity and does not function as a co-operative bank. Case-Laws Income Tax Thu, 11 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260791