https://www.taxtmi.com/caselaws?id=354508 The High Court upheld the Tribunal's decision that a cooperative society providing credit facilities to its members was not classified as a cooperative bank under the Banking Regulation Act. The Court found no legal basis to interfere with the decision, as previous judgments supported the interpretation that the society was not subject to the restrictions on deductions for cooperative banks. Therefore, the appeal challenging the deduction under section 80P(2)(a)(i) of the Income Tax Act was dismissed without any substantial question of law arising for consideration. en-us Tue, 23 Jan 2018 00:00:00 +0530 Thu, 22 Mar 2018 14:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354508 The High Court upheld the Tribunal's decision that a cooperative society providing credit facilities to its members was not classified as a cooperative bank under the Banking Regulation Act. The Court found no legal basis to interfere with the decision, as previous judgments supported the interpretation that the society was not subject to the restrictions on deductions for cooperative banks. Therefore, the appeal challenging the deduction under section 80P(2)(a)(i) of the Income Tax Act was dismissed without any substantial question of law arising for consideration. Case-Laws Income Tax Tue, 23 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354508