https://www.taxtmi.com/caselaws?id=325913 An assessee engaged only in providing credit facilities to its members was treated as a credit co-operative society, not a co-operative bank, because it did not carry on banking business with the public and was not shown to be a licensed co-operative bank. Section 80P(4) was therefore held inapplicable, leaving eligibility for deduction under section 80P(2)(a)(i) open on merits. The quantum of deduction was not finally determined, because the Assessing Officer had not examined the other components of income and deduction, and the matter was remitted for fresh quantification after giving the assessee an opportunity to furnish details. en-us Thu, 21 Jan 2016 00:00:00 +0530 Fri, 01 Apr 2016 11:09:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325913 An assessee engaged only in providing credit facilities to its members was treated as a credit co-operative society, not a co-operative bank, because it did not carry on banking business with the public and was not shown to be a licensed co-operative bank. Section 80P(4) was therefore held inapplicable, leaving eligibility for deduction under section 80P(2)(a)(i) open on merits. The quantum of deduction was not finally determined, because the Assessing Officer had not examined the other components of income and deduction, and the matter was remitted for fresh quantification after giving the assessee an opportunity to furnish details. Case-Laws Income Tax Thu, 21 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325913