https://www.taxtmi.com/caselaws?id=350570 Entitlement of a co-operative society to deduction under section 80P depended on whether its principal business was agricultural lending and whether its bye-laws and actual activities showed that it was a primary agricultural credit society. Because the bye-laws also permitted non-agricultural lending, the character of the society could not be determined on the present record and required fresh factual examination of its dominant activity. The tax deduction issue under section 194A on interest paid on time deposits, and the related disallowance under section 40(a)(ia), was consequentially linked to the society's status and also required reconsideration on remand. en-us Fri, 19 May 2017 00:00:00 +0530 Wed, 08 Nov 2017 11:21:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350570 Entitlement of a co-operative society to deduction under section 80P depended on whether its principal business was agricultural lending and whether its bye-laws and actual activities showed that it was a primary agricultural credit society. Because the bye-laws also permitted non-agricultural lending, the character of the society could not be determined on the present record and required fresh factual examination of its dominant activity. The tax deduction issue under section 194A on interest paid on time deposits, and the related disallowance under section 40(a)(ia), was consequentially linked to the society's status and also required reconsideration on remand. Case-Laws Income Tax Fri, 19 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350570