https://www.taxtmi.com/caselaws?id=467386 A co-operative society that provides credit facilities only to its members remains eligible for deduction under section 80P(2)(a)(i) unless it satisfies the statutory attributes of a co-operative bank under the Banking Regulation Act, 1949. Section 80P(4) withdraws the deduction only from co-operative banks, and the exclusion does not apply where the society does not accept deposits from the public or extend banking facilities of the kind contemplated by banking law. On the stated facts, the assessee was not treated as a co-operative bank and continued to qualify for the deduction. en-us Mon, 22 Sep 2025 00:00:00 +0530 Mon, 16 Mar 2026 11:54:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467386 A co-operative society that provides credit facilities only to its members remains eligible for deduction under section 80P(2)(a)(i) unless it satisfies the statutory attributes of a co-operative bank under the Banking Regulation Act, 1949. Section 80P(4) withdraws the deduction only from co-operative banks, and the exclusion does not apply where the society does not accept deposits from the public or extend banking facilities of the kind contemplated by banking law. On the stated facts, the assessee was not treated as a co-operative bank and continued to qualify for the deduction. Case-Laws Income Tax Mon, 22 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467386