https://www.taxtmi.com/caselaws?id=190764 A co-operative credit society providing credit facilities only to its members was treated as distinct from a co-operative bank for section 80P purposes because it was not shown to hold an RBI banking registration or licence. The jurisdictional High Court's ruling, followed by the Tribunal and the co-ordinate bench in the assessee's own case, confirmed that such member-based lending activity does not attract the exclusion in section 80P(4). The statutory deduction under section 80P(2)(a)(i) was therefore available, and the society was not denied relief on the ground that it was a co-operative bank. en-us Wed, 09 Dec 2015 00:00:00 +0530 Fri, 24 Feb 2017 19:17:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190764 A co-operative credit society providing credit facilities only to its members was treated as distinct from a co-operative bank for section 80P purposes because it was not shown to hold an RBI banking registration or licence. The jurisdictional High Court's ruling, followed by the Tribunal and the co-ordinate bench in the assessee's own case, confirmed that such member-based lending activity does not attract the exclusion in section 80P(4). The statutory deduction under section 80P(2)(a)(i) was therefore available, and the society was not denied relief on the ground that it was a co-operative bank. Case-Laws Income Tax Wed, 09 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190764