https://www.taxtmi.com/caselaws?id=461851 ITAT Bangalore held that cooperative society was entitled to deduction under section 80P(2) of Income Tax Act. The tribunal distinguished between cooperative societies and cooperative banks, ruling that section 80P(4) restrictions apply only to cooperative banks licensed by RBI for banking business, not to cooperative societies. Following Karnataka HC and previous ITAT precedents, the tribunal directed AO to grant the deduction, allowing the assessee's appeal and rejecting the denial of benefits. en-us Fri, 28 Mar 2014 00:00:00 +0530 Fri, 02 May 2025 19:18:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461851 ITAT Bangalore held that cooperative society was entitled to deduction under section 80P(2) of Income Tax Act. The tribunal distinguished between cooperative societies and cooperative banks, ruling that section 80P(4) restrictions apply only to cooperative banks licensed by RBI for banking business, not to cooperative societies. Following Karnataka HC and previous ITAT precedents, the tribunal directed AO to grant the deduction, allowing the assessee's appeal and rejecting the denial of benefits. Case-Laws Income Tax Fri, 28 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461851