https://www.taxtmi.com/caselaws?id=449428 Interest and dividend income earned by a primary agricultural credit co-operative society from investments with co-operative banks and scheduled banks may qualify for deduction under Section 80P(2)(d), but entitlement depends on verification of the recipient institution and the character of the investments. The exclusion in Section 80P(4) is directed at co-operative banks with the requisite banking licence and does not automatically bar the claim on the available record. Deduction under Section 80P(2)(a)(i) was not available on the facts. The matter was therefore remitted to the Assessing Officer for factual verification of each investment and the nature of the recipient bank. en-us Fri, 19 Jan 2024 00:00:00 +0530 Mon, 12 Feb 2024 05:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449428 Interest and dividend income earned by a primary agricultural credit co-operative society from investments with co-operative banks and scheduled banks may qualify for deduction under Section 80P(2)(d), but entitlement depends on verification of the recipient institution and the character of the investments. The exclusion in Section 80P(4) is directed at co-operative banks with the requisite banking licence and does not automatically bar the claim on the available record. Deduction under Section 80P(2)(a)(i) was not available on the facts. The matter was therefore remitted to the Assessing Officer for factual verification of each investment and the nature of the recipient bank. Case-Laws Income Tax Fri, 19 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449428