https://www.taxtmi.com/caselaws?id=313777 Eligibility for deduction under section 80P turned on whether the assessee was in substance a co-operative bank, because section 80P(4) excludes co-operative banks other than the specified exceptions. Agricultural lending by itself was not enough to establish status as a primary agricultural credit society or to secure deduction under section 80P(2)(a)(i). As the relevant bye-laws and supporting factual particulars were not on record, the assessee's status could not be finally determined. The matter was therefore sent back for fresh examination, with the Assessing Officer directed to verify the bye-laws and factual position before deciding eligibility for deduction. en-us Wed, 31 Jan 2024 00:00:00 +0530 Wed, 01 May 2024 19:54:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313777 Eligibility for deduction under section 80P turned on whether the assessee was in substance a co-operative bank, because section 80P(4) excludes co-operative banks other than the specified exceptions. Agricultural lending by itself was not enough to establish status as a primary agricultural credit society or to secure deduction under section 80P(2)(a)(i). As the relevant bye-laws and supporting factual particulars were not on record, the assessee's status could not be finally determined. The matter was therefore sent back for fresh examination, with the Assessing Officer directed to verify the bye-laws and factual position before deciding eligibility for deduction. Case-Laws Income Tax Wed, 31 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313777