https://www.taxtmi.com/caselaws?id=176483 A primary agricultural co-operative credit society was treated as entitled to deduction under section 80P(2)(a)(i) for credit facilities extended to associate or B class members. The Tribunal noted that section 2(16) of the Tamilnadu Co-operative Societies Act, 1983 recognises such persons as members for the relevant purpose, and that the beneficial nature of section 80P(2)(a)(i) did not permit a further classification between members to deny relief. The Revenue failed to show any distinguishing factual basis, so the deduction could not be refused merely because the loans were advanced to associate or B class members. en-us Thu, 08 May 2014 00:00:00 +0530 Wed, 23 Dec 2015 21:59:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176483 A primary agricultural co-operative credit society was treated as entitled to deduction under section 80P(2)(a)(i) for credit facilities extended to associate or B class members. The Tribunal noted that section 2(16) of the Tamilnadu Co-operative Societies Act, 1983 recognises such persons as members for the relevant purpose, and that the beneficial nature of section 80P(2)(a)(i) did not permit a further classification between members to deny relief. The Revenue failed to show any distinguishing factual basis, so the deduction could not be refused merely because the loans were advanced to associate or B class members. Case-Laws Income Tax Thu, 08 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176483