https://www.taxtmi.com/caselaws?id=189173 A co-operative society providing credit facilities only to its members, and not holding an RBI banking licence, remained eligible for deduction under section 80P(2)(a)(i). Section 80P(4) was held inapplicable because the exclusion applies to a co-operative bank, not to a registered co-operative society carrying on member-only credit activity. Applying the statutory definitions under the Banking Regulation Act, 1949, the Tribunal accepted that the assessee was not shown to be a co-operative bank and therefore was not denied the deduction. en-us Mon, 05 Oct 2015 00:00:00 +0530 Fri, 30 Dec 2016 12:33:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189173 A co-operative society providing credit facilities only to its members, and not holding an RBI banking licence, remained eligible for deduction under section 80P(2)(a)(i). Section 80P(4) was held inapplicable because the exclusion applies to a co-operative bank, not to a registered co-operative society carrying on member-only credit activity. Applying the statutory definitions under the Banking Regulation Act, 1949, the Tribunal accepted that the assessee was not shown to be a co-operative bank and therefore was not denied the deduction. Case-Laws Income Tax Mon, 05 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189173