https://www.taxtmi.com/caselaws?id=420440 A co-operative credit society that provides credit facilities only to its members is not treated as a co-operative bank for purposes of the section 80P(4) exclusion. The deduction under section 80P(2)(a)(i) remains available where the society does not carry on banking with the public at large, is not recognised as a bank, and has no RBI authorisation for banking activity. On that basis, the disallowance of the deduction was held unsustainable and was set aside. en-us Thu, 31 Mar 2022 00:00:00 +0530 Sat, 02 Apr 2022 08:35:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420440 A co-operative credit society that provides credit facilities only to its members is not treated as a co-operative bank for purposes of the section 80P(4) exclusion. The deduction under section 80P(2)(a)(i) remains available where the society does not carry on banking with the public at large, is not recognised as a bank, and has no RBI authorisation for banking activity. On that basis, the disallowance of the deduction was held unsustainable and was set aside. Case-Laws Income Tax Thu, 31 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420440