https://www.taxtmi.com/caselaws?id=461812 A co-operative credit society confined to lending and deposit activities for its members is treated as distinct from a co-operative bank, so the section 80P(4) bar does not automatically deny deduction under section 80P(2)(a)(i). Where the society's profits are fully attributable to eligible member-based activities, related disallowances such as staff leave encashment and election do not alter the deduction position and become academic. The note also states that the issue followed the assessee's earlier year decision on similar facts, with no distinguishing material shown. en-us Wed, 28 Feb 2018 00:00:00 +0530 Wed, 30 Apr 2025 12:43:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461812 A co-operative credit society confined to lending and deposit activities for its members is treated as distinct from a co-operative bank, so the section 80P(4) bar does not automatically deny deduction under section 80P(2)(a)(i). Where the society's profits are fully attributable to eligible member-based activities, related disallowances such as staff leave encashment and election do not alter the deduction position and become academic. The note also states that the issue followed the assessee's earlier year decision on similar facts, with no distinguishing material shown. Case-Laws Income Tax Wed, 28 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461812