https://www.taxtmi.com/caselaws?id=767134 Section 80P deduction for a primary agricultural co-operative credit society remains available where associate or limited members are treated as members under the governing co-operative law. The presence of A Class and B Class members does not, by itself, defeat the deduction claim if lending activities remain within the statutory framework applicable to members. Section 80P is a beneficial provision requiring liberal construction, and eligibility depends on whether the society carries on credit activities for its members rather than on membership classifications alone. The deduction was therefore treated as allowable and the disallowance as unsustainable. en-us Wed, 05 Mar 2025 00:00:00 +0530 Tue, 11 Mar 2025 08:33:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767134 Section 80P deduction for a primary agricultural co-operative credit society remains available where associate or limited members are treated as members under the governing co-operative law. The presence of A Class and B Class members does not, by itself, defeat the deduction claim if lending activities remain within the statutory framework applicable to members. Section 80P is a beneficial provision requiring liberal construction, and eligibility depends on whether the society carries on credit activities for its members rather than on membership classifications alone. The deduction was therefore treated as allowable and the disallowance as unsustainable. Case-Laws Income Tax Wed, 05 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767134