https://www.taxtmi.com/caselaws?id=470716 Regional rural banks are deemed to be co-operative societies for Income Tax Act purposes under the Regional Rural Banks Act, 1976. Because the restrictive CBDT Circular contains no overriding non obstante clause, it cannot alter that statutory classification or deny the benefit available under Section 80P. The stated position is that regional rural banks continue to qualify for Section 80P relief despite the circular's restrictive condition. en-us Thu, 06 Nov 2025 00:00:00 +0530 Wed, 05 Aug 2026 15:16:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470716 Regional rural banks are deemed to be co-operative societies for Income Tax Act purposes under the Regional Rural Banks Act, 1976. Because the restrictive CBDT Circular contains no overriding non obstante clause, it cannot alter that statutory classification or deny the benefit available under Section 80P. The stated position is that regional rural banks continue to qualify for Section 80P relief despite the circular's restrictive condition. Case-Laws Income Tax Thu, 06 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470716