https://www.taxtmi.com/caselaws?id=436717 Section 80P relief remains available to a co-operative society if, on the facts, it is not shown to be a co-operative bank within the statutory exclusion and its income is attributable to providing credit facilities to members. The analysis follows Mavilayi Service Co-operative Bank Ltd., which requires examination of the society's actual activities and the effect of section 80P(4), while distinguishing Citizen Co-op. Society Ltd. Societies registered under the Kerala Co-operative Societies Act, including those with nominal members and lending practices not prohibited under the State law, may still fall within the protective ambit of section 80P where the credit activity remains qualifying. The denial of deduction on that basis was therefore not sustainable. en-us Mon, 17 Apr 2023 00:00:00 +0530 Tue, 18 Apr 2023 15:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436717 Section 80P relief remains available to a co-operative society if, on the facts, it is not shown to be a co-operative bank within the statutory exclusion and its income is attributable to providing credit facilities to members. The analysis follows Mavilayi Service Co-operative Bank Ltd., which requires examination of the society's actual activities and the effect of section 80P(4), while distinguishing Citizen Co-op. Society Ltd. Societies registered under the Kerala Co-operative Societies Act, including those with nominal members and lending practices not prohibited under the State law, may still fall within the protective ambit of section 80P where the credit activity remains qualifying. The denial of deduction on that basis was therefore not sustainable. Case-Laws Income Tax Mon, 17 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436717