https://www.taxtmi.com/caselaws?id=373844 Primary agricultural credit societies classified as such under the Kerala Co-operative Societies Act, 1969 remain entitled to deduction under section 80P(2)(a)(i) of the Income-tax Act, despite section 80P(4). The jurisdictional High Court precedent treated the State-law classification as binding on income-tax authorities, so they cannot re-examine that status to deny the deduction. The Supreme Court ruling relied on by the Revenue was distinguished as not governing societies so classified under the Kerala enactment. The section 80P benefit therefore remains available to such assessees. en-us Thu, 17 Jan 2019 00:00:00 +0530 Sat, 19 Jan 2019 19:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373844 Primary agricultural credit societies classified as such under the Kerala Co-operative Societies Act, 1969 remain entitled to deduction under section 80P(2)(a)(i) of the Income-tax Act, despite section 80P(4). The jurisdictional High Court precedent treated the State-law classification as binding on income-tax authorities, so they cannot re-examine that status to deny the deduction. The Supreme Court ruling relied on by the Revenue was distinguished as not governing societies so classified under the Kerala enactment. The section 80P benefit therefore remains available to such assessees. Case-Laws Income Tax Thu, 17 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373844