https://www.taxtmi.com/caselaws?id=470220 Deduction for a primary agricultural co-operative society is available under Section 80P(2)(a)(i) for profits from credit facilities provided to members and under Section 80P(2)(a)(iv) for profits from agricultural inputs supplied to members. Section 80P(4) excludes co-operative banks but does not itself disqualify an eligible primary agricultural credit society. Income arising from loans, facilities or supplies provided to non-members is not deductible. Where the society has not established that the relevant transactions were confined to members, the Assessing Officer must verify the details, provide an opportunity of hearing, and allow deduction only for eligible member-based income. en-us Tue, 18 Mar 2025 00:00:00 +0530 Mon, 20 Jul 2026 20:32:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470220 Deduction for a primary agricultural co-operative society is available under Section 80P(2)(a)(i) for profits from credit facilities provided to members and under Section 80P(2)(a)(iv) for profits from agricultural inputs supplied to members. Section 80P(4) excludes co-operative banks but does not itself disqualify an eligible primary agricultural credit society. Income arising from loans, facilities or supplies provided to non-members is not deductible. Where the society has not established that the relevant transactions were confined to members, the Assessing Officer must verify the details, provide an opportunity of hearing, and allow deduction only for eligible member-based income. Case-Laws Income Tax Tue, 18 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470220