https://www.taxtmi.com/caselaws?id=273751 A co-operative society providing credit facilities only to its members was held to remain eligible for deduction under section 80P(2)(a)(i) because it was not shown to be a co-operative bank or primary co-operative bank under the Banking Regulation Act, 1949. The Tribunal relied on the absence of an RBI banking licence and on jurisdictional High Court rulings that section 80P(4) excludes only entities carrying on banking business as co-operative banks. The society therefore fell outside the exclusion and the deduction remained available. en-us Mon, 14 Sep 2015 00:00:00 +0530 Fri, 13 Jul 2018 06:11:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273751 A co-operative society providing credit facilities only to its members was held to remain eligible for deduction under section 80P(2)(a)(i) because it was not shown to be a co-operative bank or primary co-operative bank under the Banking Regulation Act, 1949. The Tribunal relied on the absence of an RBI banking licence and on jurisdictional High Court rulings that section 80P(4) excludes only entities carrying on banking business as co-operative banks. The society therefore fell outside the exclusion and the deduction remained available. Case-Laws Income Tax Mon, 14 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273751