https://www.taxtmi.com/caselaws?id=780490 Section 80P was applied as a beneficial provision, and section 80P(4) was treated as excluding only co-operative banks carrying on banking business with a banking licence, not a primary agricultural credit society registered under State law. The society remained eligible for deduction under section 80P(2)(a)(i) even though credit was extended to members, including nominal members, for non-agricultural purposes, because nominal members were treated as members under the Kerala Co-operative Societies Act and the nature of the loans did not defeat the claim. The appeal delay was also accepted as bona fide on the facts and condoned. en-us Wed, 10 Sep 2025 00:00:00 +0530 Fri, 31 Oct 2025 08:23:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780490 Section 80P was applied as a beneficial provision, and section 80P(4) was treated as excluding only co-operative banks carrying on banking business with a banking licence, not a primary agricultural credit society registered under State law. The society remained eligible for deduction under section 80P(2)(a)(i) even though credit was extended to members, including nominal members, for non-agricultural purposes, because nominal members were treated as members under the Kerala Co-operative Societies Act and the nature of the loans did not defeat the claim. The appeal delay was also accepted as bona fide on the facts and condoned. Case-Laws Income Tax Wed, 10 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780490