https://www.taxtmi.com/caselaws?id=376263 Primary agricultural credit societies validly classified under the Kerala Co-operative Societies Act, 1969 were held entitled to deduction under section 80P(2)(a)(i) of the Income-tax Act, 1961 despite section 80P(4). The jurisdictional High Court ruling that income-tax authorities cannot go behind the statutory classification to deny the deduction was applied, and the contrary decision relied on by the Revenue was treated as inapplicable because it arose in a different factual and statutory setting. The Revenue's challenge therefore failed, and the statutory benefit under section 80P was maintained for such societies. en-us Fri, 01 Mar 2019 00:00:00 +0530 Wed, 06 Mar 2019 06:22:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376263 Primary agricultural credit societies validly classified under the Kerala Co-operative Societies Act, 1969 were held entitled to deduction under section 80P(2)(a)(i) of the Income-tax Act, 1961 despite section 80P(4). The jurisdictional High Court ruling that income-tax authorities cannot go behind the statutory classification to deny the deduction was applied, and the contrary decision relied on by the Revenue was treated as inapplicable because it arose in a different factual and statutory setting. The Revenue's challenge therefore failed, and the statutory benefit under section 80P was maintained for such societies. Case-Laws Income Tax Fri, 01 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376263