https://www.taxtmi.com/caselaws?id=277368 Primary agricultural credit societies classified by the competent authority under the Kerala Co-operative Societies Act, 1969 are entitled to deduction under Section 80P(2). Income-tax authorities cannot re-examine that statutory classification unless the facts establishing eligibility differ. Citizens Co-operative Society Ltd. does not deny relief where nominal members are recognised under the applicable cooperative law and the society's activities remain consistent with that law. The Banking Regulation Act does not displace the statutory status of such societies for Section 80P purposes. Accordingly, the societies qualified for the deduction and the Revenue's challenge failed. en-us Thu, 08 Mar 2018 00:00:00 +0530 Mon, 03 Dec 2018 09:03:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277368 Primary agricultural credit societies classified by the competent authority under the Kerala Co-operative Societies Act, 1969 are entitled to deduction under Section 80P(2). Income-tax authorities cannot re-examine that statutory classification unless the facts establishing eligibility differ. Citizens Co-operative Society Ltd. does not deny relief where nominal members are recognised under the applicable cooperative law and the society's activities remain consistent with that law. The Banking Regulation Act does not displace the statutory status of such societies for Section 80P purposes. Accordingly, the societies qualified for the deduction and the Revenue's challenge failed. Case-Laws Income Tax Thu, 08 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277368