https://www.taxtmi.com/caselaws?id=298281 A primary agricultural credit society classified by the competent authority under the Kerala Cooperative Societies Act, 1969 was treated as eligible for deduction under section 80P(2)(a)(i) of the Income-tax Act, 1961, despite section 80P(4). The Tribunal followed the binding High Court view that income-tax authorities cannot disregard the State-law classification to deny section 80P relief. On that basis, the society was held entitled to the deduction and the Revenue's objection failed. en-us Tue, 14 Aug 2018 00:00:00 +0530 Mon, 25 Oct 2021 09:16:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298281 A primary agricultural credit society classified by the competent authority under the Kerala Cooperative Societies Act, 1969 was treated as eligible for deduction under section 80P(2)(a)(i) of the Income-tax Act, 1961, despite section 80P(4). The Tribunal followed the binding High Court view that income-tax authorities cannot disregard the State-law classification to deny section 80P relief. On that basis, the society was held entitled to the deduction and the Revenue's objection failed. Case-Laws Income Tax Tue, 14 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298281