https://www.taxtmi.com/caselaws?id=281622 A credit co-operative society remained eligible for deduction under section 80P(2)(a)(i) because section 80P(4) applies only where the entity is shown to be a co-operative bank, and lending to members by itself did not disqualify the society. Where the character of the society as a primary co-operative bank was disputed, the Banking Regulation Act made the Reserve Bank's determination final, so income-tax authorities could not conclusively decide that status on their own for section 80P purposes. The assessment view denying the deduction was therefore not sustainable, and the assessee's claim was restored. en-us Mon, 21 Sep 2015 00:00:00 +0530 Fri, 28 Jun 2019 10:25:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281622 A credit co-operative society remained eligible for deduction under section 80P(2)(a)(i) because section 80P(4) applies only where the entity is shown to be a co-operative bank, and lending to members by itself did not disqualify the society. Where the character of the society as a primary co-operative bank was disputed, the Banking Regulation Act made the Reserve Bank's determination final, so income-tax authorities could not conclusively decide that status on their own for section 80P purposes. The assessment view denying the deduction was therefore not sustainable, and the assessee's claim was restored. Case-Laws Income Tax Mon, 21 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281622