https://www.taxtmi.com/caselaws?id=432867 A co-operative credit society lending only to its members was entitled to deduction under section 80P(2)(a)(i) because it was not shown to be a co-operative bank. The Tribunal followed its earlier coordinate bench view that section 80P(4) does not deny the deduction merely because the society accepts and lends money to members, where the entity remains a credit society rather than a bank. As no change in facts or law was shown, the prior position was applied and the Revenue's challenge to the deduction failed. en-us Wed, 11 Jan 2023 00:00:00 +0530 Sat, 14 Jan 2023 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432867 A co-operative credit society lending only to its members was entitled to deduction under section 80P(2)(a)(i) because it was not shown to be a co-operative bank. The Tribunal followed its earlier coordinate bench view that section 80P(4) does not deny the deduction merely because the society accepts and lends money to members, where the entity remains a credit society rather than a bank. As no change in facts or law was shown, the prior position was applied and the Revenue's challenge to the deduction failed. Case-Laws Income Tax Wed, 11 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432867