https://www.taxtmi.com/caselaws?id=270525 Deduction under section 80P(2)(a)(i) is available to a co-operative society engaged in carrying on the business of banking or providing credit facilities to its members, while section 80P(4) withdraws that benefit only from a co-operative bank other than the specified exceptions. The document frames the further question whether income-tax authorities can determine, for section 80P purposes, if an assessee registered as a co-operative society is in substance a co-operative bank under Part V of the Banking Regulation Act, 1949. The operative distinction is between a co-operative society and a co-operative bank, as that classification governs eligibility for the deduction. en-us Mon, 21 Sep 2015 00:00:00 +0530 Fri, 08 Jan 2016 08:08:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270525 Deduction under section 80P(2)(a)(i) is available to a co-operative society engaged in carrying on the business of banking or providing credit facilities to its members, while section 80P(4) withdraws that benefit only from a co-operative bank other than the specified exceptions. The document frames the further question whether income-tax authorities can determine, for section 80P purposes, if an assessee registered as a co-operative society is in substance a co-operative bank under Part V of the Banking Regulation Act, 1949. The operative distinction is between a co-operative society and a co-operative bank, as that classification governs eligibility for the deduction. Case-Laws Income Tax Mon, 21 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270525