https://www.taxtmi.com/caselaws?id=302780 Eligibility for deduction under section 80P turned on whether the assessee was a co-operative bank covered by the exclusion in section 80P(4) or a credit society outside that exclusion. On the factual record, the assessee was not engaged in banking activity, was not governed by the Banking Regulation Act, and advanced credit only to associate members. The Tribunal found no cogent evidence to bring it within the statutory category of a co-operative bank or within the explanations to section 80P(4), so the deduction claim was sustained and the Revenue's challenge failed. en-us Thu, 01 May 2014 00:00:00 +0530 Sat, 18 Jun 2022 09:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302780 Eligibility for deduction under section 80P turned on whether the assessee was a co-operative bank covered by the exclusion in section 80P(4) or a credit society outside that exclusion. On the factual record, the assessee was not engaged in banking activity, was not governed by the Banking Regulation Act, and advanced credit only to associate members. The Tribunal found no cogent evidence to bring it within the statutory category of a co-operative bank or within the explanations to section 80P(4), so the deduction claim was sustained and the Revenue's challenge failed. Case-Laws Income Tax Thu, 01 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302780