https://www.taxtmi.com/caselaws?id=178900 A co-operative society loses section 80P relief where its actual operations and legal character show it functions as a co-operative bank rather than a primary agricultural credit society, and mutuality does not alter that result. On provision for bad and doubtful debts, the Tribunal followed binding precedent and allowed deduction only to the extent recognised under section 36(1)(viia). It also upheld disallowance under section 40(a)(ia) for interest payments made without tax deduction, applying the banking-related withholding requirement. The gratuity and pension fund disallowance was not finally decided and was remitted for verification of the payment timing and approval status of the fund. en-us Thu, 31 Jul 2014 00:00:00 +0530 Tue, 16 Feb 2016 10:16:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178900 A co-operative society loses section 80P relief where its actual operations and legal character show it functions as a co-operative bank rather than a primary agricultural credit society, and mutuality does not alter that result. On provision for bad and doubtful debts, the Tribunal followed binding precedent and allowed deduction only to the extent recognised under section 36(1)(viia). It also upheld disallowance under section 40(a)(ia) for interest payments made without tax deduction, applying the banking-related withholding requirement. The gratuity and pension fund disallowance was not finally decided and was remitted for verification of the payment timing and approval status of the fund. Case-Laws Income Tax Thu, 31 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178900