https://www.taxtmi.com/caselaws?id=403925 Interest and dividend income earned by a co-operative society from deposits and investments with a co-operative bank was treated as eligible for deduction, because a co-operative bank remains a co-operative society for the purpose of section 80P(2)(d). A member-only co-operative credit society was also treated as outside section 80P(4), since it did not carry on banking business or hold an RBI banking licence; its credit activity was confined to members. On that basis, deductions under section 80P(2)(d) and section 80P(2)(a)(i) were sustained. en-us Wed, 27 Jan 2021 00:00:00 +0530 Wed, 10 Feb 2021 10:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403925 Interest and dividend income earned by a co-operative society from deposits and investments with a co-operative bank was treated as eligible for deduction, because a co-operative bank remains a co-operative society for the purpose of section 80P(2)(d). A member-only co-operative credit society was also treated as outside section 80P(4), since it did not carry on banking business or hold an RBI banking licence; its credit activity was confined to members. On that basis, deductions under section 80P(2)(d) and section 80P(2)(a)(i) were sustained. Case-Laws Income Tax Wed, 27 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403925