https://www.taxtmi.com/caselaws?id=364249 A primary agricultural credit society registered under the Kerala Co-operative Societies Act was held entitled to deduction under section 80P(2)(a)(i), because the factual basis for applying section 80P(4) and the Supreme Court ruling in Citizen Co-operative Society Ltd. was absent; the Kerala High Court view in Chirakkal Service Co-operative Bank Ltd. was followed. Interest earned from investments with sub-treasuries was also treated as part of banking operations and qualified for deduction under section 80P(2)(a)(i). The society's trade-income claim was remanded for fresh consideration because the authorities had not made a clear finding on its nature or its possible coverage under section 80P(2)(a)(iv). en-us Mon, 23 Jul 2018 00:00:00 +0530 Wed, 25 Jul 2018 07:47:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=364249 A primary agricultural credit society registered under the Kerala Co-operative Societies Act was held entitled to deduction under section 80P(2)(a)(i), because the factual basis for applying section 80P(4) and the Supreme Court ruling in Citizen Co-operative Society Ltd. was absent; the Kerala High Court view in Chirakkal Service Co-operative Bank Ltd. was followed. Interest earned from investments with sub-treasuries was also treated as part of banking operations and qualified for deduction under section 80P(2)(a)(i). The society's trade-income claim was remanded for fresh consideration because the authorities had not made a clear finding on its nature or its possible coverage under section 80P(2)(a)(iv). Case-Laws Income Tax Mon, 23 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=364249