https://www.taxtmi.com/caselaws?id=268387 A co-operative credit society providing credit facilities to its members is not excluded from deduction under section 80P(2)(a)(i) merely because of section 80P(4). The discussed position applies where the society is not carrying on banking business as a co-operative bank and does not hold a banking licence from the RBI. On the facts described, the society remained a co-operative society rather than a co-operative bank, so the section 80P(4) exclusion did not apply and the deduction was allowable. en-us Mon, 27 Jul 2015 00:00:00 +0530 Wed, 25 Nov 2015 10:53:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268387 A co-operative credit society providing credit facilities to its members is not excluded from deduction under section 80P(2)(a)(i) merely because of section 80P(4). The discussed position applies where the society is not carrying on banking business as a co-operative bank and does not hold a banking licence from the RBI. On the facts described, the society remained a co-operative society rather than a co-operative bank, so the section 80P(4) exclusion did not apply and the deduction was allowable. Case-Laws Income Tax Mon, 27 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268387