https://www.taxtmi.com/caselaws?id=398506 Deduction under Section 80P for a co-operative society cannot be determined from registration status alone; eligibility depends on the actual nature of the society's activities and, for each assessment year, whether loan disbursements were for agricultural purposes, in light of Section 80P(4). The earlier view that classification as a co-operative society was sufficient was not accepted. Because no detailed inquiry had been made into the nature and purpose of each loan disbursement, the factual basis for denying the deduction was incomplete, and the matter was restored to the Assessing Officer for fresh examination in accordance with law. en-us Tue, 15 Sep 2020 00:00:00 +0530 Fri, 08 Nov 2024 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398506 Deduction under Section 80P for a co-operative society cannot be determined from registration status alone; eligibility depends on the actual nature of the society's activities and, for each assessment year, whether loan disbursements were for agricultural purposes, in light of Section 80P(4). The earlier view that classification as a co-operative society was sufficient was not accepted. Because no detailed inquiry had been made into the nature and purpose of each loan disbursement, the factual basis for denying the deduction was incomplete, and the matter was restored to the Assessing Officer for fresh examination in accordance with law. Case-Laws Income Tax Tue, 15 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398506