https://www.taxtmi.com/caselaws?id=331176 The Madras HC held that co-operative societies carrying on lending and deposit activities within a limited area remained eligible for deduction under Section 80P(2)(a)(i), even though they had associate or class B members who were not voting members and who availed loans for non-agricultural purposes. The Court rejected the Revenue's attempt to restrict "members" to voting members alone, treating that reading as an impermissible classification within classification. It also held that the existence of associate members did not by itself convert the societies into co-operative banks, and Section 80P(4) did not operate to deny the deduction on the facts presented. en-us Tue, 02 Aug 2016 00:00:00 +0530 Tue, 16 Aug 2016 11:18:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331176 The Madras HC held that co-operative societies carrying on lending and deposit activities within a limited area remained eligible for deduction under Section 80P(2)(a)(i), even though they had associate or class B members who were not voting members and who availed loans for non-agricultural purposes. The Court rejected the Revenue's attempt to restrict "members" to voting members alone, treating that reading as an impermissible classification within classification. It also held that the existence of associate members did not by itself convert the societies into co-operative banks, and Section 80P(4) did not operate to deny the deduction on the facts presented. Case-Laws Income Tax Tue, 02 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331176