https://www.taxtmi.com/caselaws?id=273994 A co-operative credit society that provides credit facilities only to its members, and does not carry on banking business as a co-operative bank, remains eligible for deduction under section 80P(2)(a)(i). Section 80P(4) withdraws that benefit only from a co-operative bank other than the specified exceptions, and a society without an RBI banking licence is not treated as such for this purpose. Applying the binding jurisdictional High Court view, the Tribunal held that the exclusion in section 80P(4) did not apply and the deduction was allowable. en-us Wed, 05 Aug 2015 00:00:00 +0530 Mon, 23 Jul 2018 16:56:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273994 A co-operative credit society that provides credit facilities only to its members, and does not carry on banking business as a co-operative bank, remains eligible for deduction under section 80P(2)(a)(i). Section 80P(4) withdraws that benefit only from a co-operative bank other than the specified exceptions, and a society without an RBI banking licence is not treated as such for this purpose. Applying the binding jurisdictional High Court view, the Tribunal held that the exclusion in section 80P(4) did not apply and the deduction was allowable. Case-Laws Income Tax Wed, 05 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273994