https://www.taxtmi.com/caselaws?id=261596 The Tribunal upheld the order of the CIT(Appeals) and dismissed the Revenue's appeal, ruling that the primary Agricultural Credit Co-operative Society was entitled to claim the deduction under section 80P of the Income Tax Act, 1961. The society's activities were found to be distinct from those of a co-operative bank, making it eligible for the deduction despite engaging in banking activities and providing loans for non-agricultural purposes. The interpretation of the Finance Act, 2006 supported the society's eligibility for the deduction as a credit co-operative society. en-us Tue, 11 Feb 2014 00:00:00 +0530 Thu, 16 Jul 2015 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261596 The Tribunal upheld the order of the CIT(Appeals) and dismissed the Revenue's appeal, ruling that the primary Agricultural Credit Co-operative Society was entitled to claim the deduction under section 80P of the Income Tax Act, 1961. The society's activities were found to be distinct from those of a co-operative bank, making it eligible for the deduction despite engaging in banking activities and providing loans for non-agricultural purposes. The interpretation of the Finance Act, 2006 supported the society's eligibility for the deduction as a credit co-operative society. Case-Laws Income Tax Tue, 11 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261596