https://www.taxtmi.com/caselaws?id=369626 Primary agricultural credit societies registered under State co-operative law are treated as eligible for deduction under section 80P(2), and section 80P(4) does not by itself deny that relief on these facts. Interest earned on investments with co-operative banks is not covered by section 80P(2)(d) merely because the recipient is a co-operative bank, but where the funds are deployed in the course of credit or banking activity, the interest is treated as business income attributable to providing credit facilities and is deductible under section 80P(2)(a)(i). en-us Thu, 25 Oct 2018 00:00:00 +0530 Wed, 31 Oct 2018 10:43:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369626 Primary agricultural credit societies registered under State co-operative law are treated as eligible for deduction under section 80P(2), and section 80P(4) does not by itself deny that relief on these facts. Interest earned on investments with co-operative banks is not covered by section 80P(2)(d) merely because the recipient is a co-operative bank, but where the funds are deployed in the course of credit or banking activity, the interest is treated as business income attributable to providing credit facilities and is deductible under section 80P(2)(a)(i). Case-Laws Income Tax Thu, 25 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369626