https://www.taxtmi.com/caselaws?id=361786 Primary agricultural credit societies classified under the Kerala Co-operative Societies Act were held entitled to deduction under section 80P(2)(a)(i) because, once the State Act classification is in place, the Income-tax authorities cannot go behind it for section 80P purposes. The Tribunal followed the binding jurisdictional High Court ruling in Chirakkal Service Co-operative Bank Ltd. and distinguished Citizens Co-operative Society Ltd. on the basis that the latter involved nominal members treated as non-members and banking-like activities, whereas under the Kerala Act nominal members are members in law. The Revenue's challenge therefore failed. en-us Tue, 12 Jun 2018 00:00:00 +0530 Wed, 13 Jun 2018 17:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361786 Primary agricultural credit societies classified under the Kerala Co-operative Societies Act were held entitled to deduction under section 80P(2)(a)(i) because, once the State Act classification is in place, the Income-tax authorities cannot go behind it for section 80P purposes. The Tribunal followed the binding jurisdictional High Court ruling in Chirakkal Service Co-operative Bank Ltd. and distinguished Citizens Co-operative Society Ltd. on the basis that the latter involved nominal members treated as non-members and banking-like activities, whereas under the Kerala Act nominal members are members in law. The Revenue's challenge therefore failed. Case-Laws Income Tax Tue, 12 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361786