https://www.taxtmi.com/caselaws?id=398505 Deduction under section 80P cannot be determined solely from the society's registration under co-operative law; the Assessing Officer must examine the actual business activities and verify whether loans and advances were for agricultural or non-agricultural purposes. Eligibility must be tested separately for each assessment year, with the factual character of each loan disbursement established before applying section 80P, including the effect of section 80P(4). The denial of deduction was therefore not finally upheld on the existing record and the matter was remitted for fresh factual examination in accordance with law. en-us Mon, 14 Sep 2020 00:00:00 +0530 Thu, 17 Sep 2020 18:20:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398505 Deduction under section 80P cannot be determined solely from the society's registration under co-operative law; the Assessing Officer must examine the actual business activities and verify whether loans and advances were for agricultural or non-agricultural purposes. Eligibility must be tested separately for each assessment year, with the factual character of each loan disbursement established before applying section 80P, including the effect of section 80P(4). The denial of deduction was therefore not finally upheld on the existing record and the matter was remitted for fresh factual examination in accordance with law. Case-Laws Income Tax Mon, 14 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398505