https://www.taxtmi.com/caselaws?id=423929 Section 80P(4) excludes only co-operative banks that, in substance, carry on banking business with public deposits and require RBI licensing; a registered co-operative society dealing only with members remains outside that exclusion. On the facts described, the assessee was registered as a co-operative society, had no RBI licence, and its activities were confined to members under the governing co-operative law, so section 80P(4) did not apply. Interest income arising from transactions with class A members and recognised associate class B members was also treated as eligible for deduction under section 80P(2)(a)(i), because those dealings remained within the member-oriented framework and were not transactions with the general public. en-us Fri, 29 Apr 2022 00:00:00 +0530 Fri, 17 Jun 2022 16:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423929 Section 80P(4) excludes only co-operative banks that, in substance, carry on banking business with public deposits and require RBI licensing; a registered co-operative society dealing only with members remains outside that exclusion. On the facts described, the assessee was registered as a co-operative society, had no RBI licence, and its activities were confined to members under the governing co-operative law, so section 80P(4) did not apply. Interest income arising from transactions with class A members and recognised associate class B members was also treated as eligible for deduction under section 80P(2)(a)(i), because those dealings remained within the member-oriented framework and were not transactions with the general public. Case-Laws Income Tax Fri, 29 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423929