https://www.taxtmi.com/caselaws?id=306172 A co-operative credit society that accepts deposits and lends only to its members remains eligible for deduction under section 80P, because the exclusion in section 80P(4) applies to co-operative banks and not to a credit society that is not itself a co-operative bank. The related amendment to section 2(24)(viia) did not alter that position on the facts considered. The conclusion was reinforced by the coordinate bench view in the assessee's earlier year, and the Revenue's challenge failed. en-us Wed, 10 Jul 2019 00:00:00 +0530 Sun, 15 Jan 2023 14:51:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306172 A co-operative credit society that accepts deposits and lends only to its members remains eligible for deduction under section 80P, because the exclusion in section 80P(4) applies to co-operative banks and not to a credit society that is not itself a co-operative bank. The related amendment to section 2(24)(viia) did not alter that position on the facts considered. The conclusion was reinforced by the coordinate bench view in the assessee's earlier year, and the Revenue's challenge failed. Case-Laws Income Tax Wed, 10 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306172