https://www.taxtmi.com/caselaws?id=404005 A registered cooperative society engaged in credit facilities to members was treated as eligible for deduction under Section 80P because it satisfied the statutory conditions for the benefit. Section 80P(4) was stated to apply only to cooperative banks, not to a primary agricultural cooperative credit society, so the deduction was not denied on that ground. The note also states that an associate member falls within the expression "member" under the Tamil Nadu Cooperative Societies Act, so distinction between classes of members did not defeat Section 80P eligibility. The assessee's deduction claim was therefore accepted. en-us Mon, 01 Feb 2021 00:00:00 +0530 Wed, 24 Mar 2021 17:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404005 A registered cooperative society engaged in credit facilities to members was treated as eligible for deduction under Section 80P because it satisfied the statutory conditions for the benefit. Section 80P(4) was stated to apply only to cooperative banks, not to a primary agricultural cooperative credit society, so the deduction was not denied on that ground. The note also states that an associate member falls within the expression "member" under the Tamil Nadu Cooperative Societies Act, so distinction between classes of members did not defeat Section 80P eligibility. The assessee's deduction claim was therefore accepted. Case-Laws Income Tax Mon, 01 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404005