https://www.taxtmi.com/caselaws?id=306623 Section 80P(2)(a)(i) deduction was available to a primary agricultural co-operative credit society on interest from associate members recognised under State cooperative law; loans to such members could not be excluded merely because they lacked participation rights. Interest from deposits with co-operative banks required verification of the recipient institution's legal and regulatory status. Eligibility depends on whether deposits were placed with licensed co-operative banks governed by banking law or with co-operative societies governed by State cooperative law. The deposit-interest issue was restored to the Assessing Officer for factual examination and fresh decision. en-us Wed, 20 Jul 2022 00:00:00 +0530 Wed, 15 Feb 2023 08:51:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306623 Section 80P(2)(a)(i) deduction was available to a primary agricultural co-operative credit society on interest from associate members recognised under State cooperative law; loans to such members could not be excluded merely because they lacked participation rights. Interest from deposits with co-operative banks required verification of the recipient institution's legal and regulatory status. Eligibility depends on whether deposits were placed with licensed co-operative banks governed by banking law or with co-operative societies governed by State cooperative law. The deposit-interest issue was restored to the Assessing Officer for factual examination and fresh decision. Case-Laws Income Tax Wed, 20 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306623