https://www.taxtmi.com/caselaws?id=344058 A co-operative bank registered and classified as a primary agricultural credit society was held entitled to deduction under section 80P(2) because its statutory status under the Kerala Co-operative Societies Act, supported by the Registrar's certificate, brought it within the protected category. The Tribunal followed binding High Court authority that such societies are not denied the benefit merely because they carry on banking activities, so section 80P(4) did not apply to exclude the claim. The disallowance was therefore unsustainable. en-us Tue, 04 Apr 2017 00:00:00 +0530 Thu, 08 Jun 2017 05:57:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344058 A co-operative bank registered and classified as a primary agricultural credit society was held entitled to deduction under section 80P(2) because its statutory status under the Kerala Co-operative Societies Act, supported by the Registrar's certificate, brought it within the protected category. The Tribunal followed binding High Court authority that such societies are not denied the benefit merely because they carry on banking activities, so section 80P(4) did not apply to exclude the claim. The disallowance was therefore unsustainable. Case-Laws Income Tax Tue, 04 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344058