https://www.taxtmi.com/caselaws?id=367729 A primary agricultural credit society classified under State co-operative law was treated as eligible for deduction under section 80P(2), because the Income-tax authorities could not re-examine its primary character to invoke the bar in section 80P(4). The Tribunal also treated interest earned on investments made in the course of the society's credit activities as attributable to the business of providing credit facilities to members, so it fell within section 80P(2)(a)(i). It distinguished section 80P(2)(d), noting that clause applies to investments in co-operative societies, not as the proper basis on these facts. en-us Wed, 19 Sep 2018 00:00:00 +0530 Thu, 23 Dec 2021 13:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367729 A primary agricultural credit society classified under State co-operative law was treated as eligible for deduction under section 80P(2), because the Income-tax authorities could not re-examine its primary character to invoke the bar in section 80P(4). The Tribunal also treated interest earned on investments made in the course of the society's credit activities as attributable to the business of providing credit facilities to members, so it fell within section 80P(2)(a)(i). It distinguished section 80P(2)(d), noting that clause applies to investments in co-operative societies, not as the proper basis on these facts. Case-Laws Income Tax Wed, 19 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367729