https://www.taxtmi.com/caselaws?id=325875 A co-operative society was held not to fall within the statutory description of a co-operative bank because the cumulative conditions in the Banking Regulation Act, 1949 were not satisfied, including proof that its principal business was banking and that its bye-laws barred membership of other co-operative societies. Section 80P(4) therefore did not exclude the deduction, and relief under section 80P(2)(a)(i) remained available in respect of income attributable to credit facilities provided to members. On the related TDS issue, the disallowance under section 40(a)(ia) read with section 194A was also deleted, and the appellate relief was sustained. en-us Thu, 18 Feb 2016 00:00:00 +0530 Thu, 31 Mar 2016 10:41:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325875 A co-operative society was held not to fall within the statutory description of a co-operative bank because the cumulative conditions in the Banking Regulation Act, 1949 were not satisfied, including proof that its principal business was banking and that its bye-laws barred membership of other co-operative societies. Section 80P(4) therefore did not exclude the deduction, and relief under section 80P(2)(a)(i) remained available in respect of income attributable to credit facilities provided to members. On the related TDS issue, the disallowance under section 40(a)(ia) read with section 194A was also deleted, and the appellate relief was sustained. Case-Laws Income Tax Thu, 18 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325875