https://www.taxtmi.com/caselaws?id=366672 A primary agricultural credit society classified under State co-operative law was treated as entitled to deduction under section 80P, because that statutory classification could not be displaced by further inquiry beyond the recognised status under the Kerala Co-operative Societies Act. Interest earned on investments placed with sub-treasuries and banks was also regarded as arising from the society's banking activities and therefore remained within the scope of deduction under section 80P(2)(a)(i). The Revenue's challenge failed on both issues, and the deduction claim was upheld in full. en-us Mon, 03 Sep 2018 00:00:00 +0530 Sat, 08 Sep 2018 08:09:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366672 A primary agricultural credit society classified under State co-operative law was treated as entitled to deduction under section 80P, because that statutory classification could not be displaced by further inquiry beyond the recognised status under the Kerala Co-operative Societies Act. Interest earned on investments placed with sub-treasuries and banks was also regarded as arising from the society's banking activities and therefore remained within the scope of deduction under section 80P(2)(a)(i). The Revenue's challenge failed on both issues, and the deduction claim was upheld in full. Case-Laws Income Tax Mon, 03 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366672