https://www.taxtmi.com/caselaws?id=285805 The Tribunal ruled in favor of the Co-operative Credit Society, holding that it did not fall under the restrictions of section 80P(4) as it was not engaged in banking business but provided credit facilities to its members. The Tribunal dismissed the Revenue's appeal, affirming that the Co-operative Credit Society was eligible for exemptions under section 80P of the Income Tax Act, 1961. This decision clarified the distinction between banking activities and credit services for Co-operative Credit Societies in claiming deductions under the Act. en-us Fri, 20 May 2016 00:00:00 +0530 Tue, 04 Feb 2020 10:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285805 The Tribunal ruled in favor of the Co-operative Credit Society, holding that it did not fall under the restrictions of section 80P(4) as it was not engaged in banking business but provided credit facilities to its members. The Tribunal dismissed the Revenue's appeal, affirming that the Co-operative Credit Society was eligible for exemptions under section 80P of the Income Tax Act, 1961. This decision clarified the distinction between banking activities and credit services for Co-operative Credit Societies in claiming deductions under the Act. Case-Laws Income Tax Fri, 20 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285805