https://www.taxtmi.com/caselaws?id=366609 Primary agricultural credit societies registered under the Kerala Co-operative Societies Act are stated to be eligible for deduction under section 80P, and the contrary reliance on section 80P(4) was treated as ineffective on the facts. Interest earned on investments with co-operative banks was held not to fall within section 80P(2)(d), because that provision applies to interest from investments with co-operative societies; however, where the deposits were made in the course of banking and credit activities for members, the interest was treated as business income attributable to such activity and deductible under section 80P(2)(a)(i). en-us Mon, 03 Sep 2018 00:00:00 +0530 Fri, 07 Sep 2018 08:38:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366609 Primary agricultural credit societies registered under the Kerala Co-operative Societies Act are stated to be eligible for deduction under section 80P, and the contrary reliance on section 80P(4) was treated as ineffective on the facts. Interest earned on investments with co-operative banks was held not to fall within section 80P(2)(d), because that provision applies to interest from investments with co-operative societies; however, where the deposits were made in the course of banking and credit activities for members, the interest was treated as business income attributable to such activity and deductible under section 80P(2)(a)(i). Case-Laws Income Tax Mon, 03 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366609