https://www.taxtmi.com/caselaws?id=281299 A primary agricultural credit society registered under the Kerala Co-operative Societies Act, 1969 remained eligible for deduction under section 80P(2)(a)(i) of the Income-tax Act, 1961. The jurisdictional High Court precedent treated such societies as entitled to section 80P(2) relief and held that tax authorities cannot disregard the classification made by the competent authority under State co-operative law when the society satisfies that description. On that basis, section 80P(4) did not displace the deduction claim, and the Revenue's challenge failed. en-us Mon, 23 Jul 2018 00:00:00 +0530 Thu, 13 Jun 2019 06:15:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281299 A primary agricultural credit society registered under the Kerala Co-operative Societies Act, 1969 remained eligible for deduction under section 80P(2)(a)(i) of the Income-tax Act, 1961. The jurisdictional High Court precedent treated such societies as entitled to section 80P(2) relief and held that tax authorities cannot disregard the classification made by the competent authority under State co-operative law when the society satisfies that description. On that basis, section 80P(4) did not displace the deduction claim, and the Revenue's challenge failed. Case-Laws Income Tax Mon, 23 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281299