https://www.taxtmi.com/caselaws?id=376264 A primary agricultural credit society registered and classified under the Kerala Cooperative Societies Act was treated as entitled to deduction for co-operative society income. The jurisdictional High Court principle applied was that, once the competent State authority recognises the entity as a primary agricultural credit society, income-tax authorities cannot re-examine that status to deny the benefit. The exclusion in section 80P(4) was stated not to apply to genuinely recognised primary agricultural credit societies, and the Revenue authority's contrary reliance was held inapplicable. en-us Fri, 01 Mar 2019 00:00:00 +0530 Wed, 06 Mar 2019 06:22:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376264 A primary agricultural credit society registered and classified under the Kerala Cooperative Societies Act was treated as entitled to deduction for co-operative society income. The jurisdictional High Court principle applied was that, once the competent State authority recognises the entity as a primary agricultural credit society, income-tax authorities cannot re-examine that status to deny the benefit. The exclusion in section 80P(4) was stated not to apply to genuinely recognised primary agricultural credit societies, and the Revenue authority's contrary reliance was held inapplicable. Case-Laws Income Tax Fri, 01 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376264