https://www.taxtmi.com/caselaws?id=280759 The ITAT upheld the denial of deduction u/s 80P(2)(i)(a) of the IT Act for the cooperative society engaged in banking business, based on the insertion of sub-section (4) to section 80P. The determination of being a cooperative bank or society should rely on RBI certification, leading to the denial of the deduction. The ITAT dismissed the appeal, emphasizing the importance of RBI certification in determining the tax benefit eligibility of cooperative entities under section 80P. en-us Mon, 02 Nov 2015 00:00:00 +0530 Tue, 21 May 2019 06:17:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280759 The ITAT upheld the denial of deduction u/s 80P(2)(i)(a) of the IT Act for the cooperative society engaged in banking business, based on the insertion of sub-section (4) to section 80P. The determination of being a cooperative bank or society should rely on RBI certification, leading to the denial of the deduction. The ITAT dismissed the appeal, emphasizing the importance of RBI certification in determining the tax benefit eligibility of cooperative entities under section 80P. Case-Laws Income Tax Mon, 02 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280759