https://www.taxtmi.com/highlights?id=69681 Deduction u/s 80P - The banking activities under the Banking Regulation Act are altogether different activities. There is a vast difference between the credit societies giving credit to their own members only and the Banks providing banking services including the credit to the public at large also. - the respondent/Assessee cannot be said to be Co-operative Bank/Bank and, therefore, Section 80(P)(4) shall not be applicable and that the respondent/Assessee shall be entitled to exemption/benefit under Section 80(P)(2) - SC en-us Tue, 09 May 2023 08:07:33 +0530 Tue, 09 May 2023 08:07:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=69681 Deduction u/s 80P - The banking activities under the Banking Regulation Act are altogether different activities. There is a vast difference between the credit societies giving credit to their own members only and the Banks providing banking services including the credit to the public at large also. - the respondent/Assessee cannot be said to be Co-operative Bank/Bank and, therefore, Section 80(P)(4) shall not be applicable and that the respondent/Assessee shall be entitled to exemption/benefit under Section 80(P)(2) - SC Highlights Income Tax Tue, 09 May 2023 08:07:33 +0530 https://www.taxtmi.com/highlights?id=69681