https://www.taxtmi.com/caselaws?id=367510 Primary agricultural credit societies classified under the Kerala Co-operative Societies Act, 1969 were treated as entitled to deduction for income from co-operative credit activities, because their statutory status as primary agricultural credit societies had already been established under the State co-operative law. The income-tax authorities were not permitted to re-examine that classification to deny relief. On that reasoning, the exclusion in Section 80P(4) was held not to defeat the claim of societies falling within the protected category recognised under the relevant State law and the banking regulation framework. en-us Wed, 19 Sep 2018 00:00:00 +0530 Fri, 21 Sep 2018 08:26:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367510 Primary agricultural credit societies classified under the Kerala Co-operative Societies Act, 1969 were treated as entitled to deduction for income from co-operative credit activities, because their statutory status as primary agricultural credit societies had already been established under the State co-operative law. The income-tax authorities were not permitted to re-examine that classification to deny relief. On that reasoning, the exclusion in Section 80P(4) was held not to defeat the claim of societies falling within the protected category recognised under the relevant State law and the banking regulation framework. Case-Laws Income Tax Wed, 19 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367510