https://www.taxtmi.com/caselaws?id=396995 An associate member recognised as a member under the Tamil Nadu Cooperative Societies Act satisfies the membership requirement for deduction under Section 80P of the Income-tax Act. The Court applied the statutory definition of "member" and followed earlier Division Bench authority, holding that the assessee could not be denied Section 80P relief merely because it admitted associate members. It also held that the Section 80P(4) exclusion is directed at cooperative banks and does not bar a primary agricultural credit society from claiming the deduction on this ground. The assessee's claim for Section 80P deduction was therefore upheld. en-us Fri, 17 Jul 2020 00:00:00 +0530 Wed, 24 Mar 2021 17:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396995 An associate member recognised as a member under the Tamil Nadu Cooperative Societies Act satisfies the membership requirement for deduction under Section 80P of the Income-tax Act. The Court applied the statutory definition of "member" and followed earlier Division Bench authority, holding that the assessee could not be denied Section 80P relief merely because it admitted associate members. It also held that the Section 80P(4) exclusion is directed at cooperative banks and does not bar a primary agricultural credit society from claiming the deduction on this ground. The assessee's claim for Section 80P deduction was therefore upheld. Case-Laws Income Tax Fri, 17 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396995