https://www.taxtmi.com/caselaws?id=354120 A primary agricultural credit society registered under the Kerala State Co-operative Societies Act, 1969 was treated as entitled to deduction under section 80P(2)(a)(i) of the Income-tax Act because the Registrar's certificate supported that classification, and the Income-tax authorities could not go behind it. The jurisdictional High Court ruling in Chirakkal was applied to confirm eligibility under section 80P(2), while the Supreme Court decision in Citizens Co-operative Society Ltd. was distinguished on facts because it concerned deposits from nominal members treated as non-members under a different State law. The Tribunal also noted that the Banking Regulation Act, 1949 did not justify denial of the claim. The Revenue's challenge failed. en-us Mon, 15 Jan 2018 00:00:00 +0530 Thu, 18 Jan 2018 08:25:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354120 A primary agricultural credit society registered under the Kerala State Co-operative Societies Act, 1969 was treated as entitled to deduction under section 80P(2)(a)(i) of the Income-tax Act because the Registrar's certificate supported that classification, and the Income-tax authorities could not go behind it. The jurisdictional High Court ruling in Chirakkal was applied to confirm eligibility under section 80P(2), while the Supreme Court decision in Citizens Co-operative Society Ltd. was distinguished on facts because it concerned deposits from nominal members treated as non-members under a different State law. The Tribunal also noted that the Banking Regulation Act, 1949 did not justify denial of the claim. The Revenue's challenge failed. Case-Laws Income Tax Mon, 15 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354120