https://www.taxtmi.com/caselaws?id=790835 A primary credit co-operative society governed by the Maharashtra Co-operative Societies Act was entitled to deduction on income from dealings with nominal members, because nominal members are treated as members for section 80P purposes. The addition on that count was therefore deleted. Interest earned on investments and deposits with co-operative banks was also held deductible under section 80P(2)(d), while interest from other bank deposits was treated as income attributable to the society's credit activity and deductible under section 80P(2)(a)(i). The restriction in section 80P(4) was not applied to deny these deductions, and the disallowances were set aside. en-us Fri, 17 Apr 2026 00:00:00 +0530 Wed, 29 Apr 2026 11:34:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790835 A primary credit co-operative society governed by the Maharashtra Co-operative Societies Act was entitled to deduction on income from dealings with nominal members, because nominal members are treated as members for section 80P purposes. The addition on that count was therefore deleted. Interest earned on investments and deposits with co-operative banks was also held deductible under section 80P(2)(d), while interest from other bank deposits was treated as income attributable to the society's credit activity and deductible under section 80P(2)(a)(i). The restriction in section 80P(4) was not applied to deny these deductions, and the disallowances were set aside. Case-Laws Income Tax Fri, 17 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790835