https://www.taxtmi.com/caselaws?id=176840 The High Court ruled in favor of the assessee, holding that the benefit under Section 80P of the Income Tax Act should not be denied to primary agricultural credit societies or primary co-operative agricultural and rural development banks. The Court emphasized that co-operative banks exclusively engaged in banking business are excluded from this benefit. Additionally, the Court upheld the Tribunal's decision to entertain the appeal and set aside the order passed by the revisional authority, stating that when no error exists, the order cannot be considered prejudicial. en-us Fri, 27 Jun 2014 00:00:00 +0530 Wed, 30 Dec 2015 09:54:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176840 The High Court ruled in favor of the assessee, holding that the benefit under Section 80P of the Income Tax Act should not be denied to primary agricultural credit societies or primary co-operative agricultural and rural development banks. The Court emphasized that co-operative banks exclusively engaged in banking business are excluded from this benefit. Additionally, the Court upheld the Tribunal's decision to entertain the appeal and set aside the order passed by the revisional authority, stating that when no error exists, the order cannot be considered prejudicial. Case-Laws Income Tax Fri, 27 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176840