https://www.taxtmi.com/caselaws?id=266105 Credit facilities extended by a co-operative society to associate or class B members cannot be excluded from deduction under section 80P(2)(a)(i) where the governing co-operative societies law treats such persons as members. Internal classification within the society's membership structure does not justify a further restriction on the statutory expression "members" for denying the deduction. The Tribunal followed its co-ordinate Bench view and held that the revenue authorities could not create an additional member category to defeat the benefit otherwise available to a co-operative society engaged in providing credit facilities to its members. en-us Fri, 20 Jun 2014 00:00:00 +0530 Sat, 17 Oct 2015 23:25:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266105 Credit facilities extended by a co-operative society to associate or class B members cannot be excluded from deduction under section 80P(2)(a)(i) where the governing co-operative societies law treats such persons as members. Internal classification within the society's membership structure does not justify a further restriction on the statutory expression "members" for denying the deduction. The Tribunal followed its co-ordinate Bench view and held that the revenue authorities could not create an additional member category to defeat the benefit otherwise available to a co-operative society engaged in providing credit facilities to its members. Case-Laws Income Tax Fri, 20 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266105