https://www.taxtmi.com/caselaws?id=362277 Primary agricultural credit societies registered and classified under the Kerala Co-operative Societies Act, 1969 were treated as entitled to deduction under section 80P(2)(a)(i) of the Income-tax Act. The Tribunal followed the jurisdictional High Court in Chirakkal and held that the State statutory classification could not be displaced on the facts. It distinguished Citizens Co-operative Society Ltd. because that case involved nominal members treated as non-members and activities beyond the permissible co-operative framework, whereas the Kerala Act includes nominal members within the definition of member. The Revenue's challenge therefore failed. en-us Wed, 20 Jun 2018 00:00:00 +0530 Fri, 22 Jun 2018 08:29:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362277 Primary agricultural credit societies registered and classified under the Kerala Co-operative Societies Act, 1969 were treated as entitled to deduction under section 80P(2)(a)(i) of the Income-tax Act. The Tribunal followed the jurisdictional High Court in Chirakkal and held that the State statutory classification could not be displaced on the facts. It distinguished Citizens Co-operative Society Ltd. because that case involved nominal members treated as non-members and activities beyond the permissible co-operative framework, whereas the Kerala Act includes nominal members within the definition of member. The Revenue's challenge therefore failed. Case-Laws Income Tax Wed, 20 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362277