https://www.taxtmi.com/caselaws?id=470754 Section 80P should be liberally construed to support registered co-operative societies providing credit facilities to members. Income from those activities qualifies for deduction under Section 80P(2)(a)(i), and limited lending to associate members does not by itself defeat eligibility where operations conform to the society's registration and bye-laws. Interest from investments with a co-operative society engaged in banking may qualify under Section 80P(2)(d), or under Section 80P(2)(a)(i) where attributable to business. Section 80P(4) does not alter a co-operative bank's status as a co-operative society under State law. Audit-fee disallowance for tax withholding may be removed if Form 26A establishes the payee's tax compliance. en-us Fri, 25 Jul 2025 00:00:00 +0530 Thu, 06 Aug 2026 19:34:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470754 Section 80P should be liberally construed to support registered co-operative societies providing credit facilities to members. Income from those activities qualifies for deduction under Section 80P(2)(a)(i), and limited lending to associate members does not by itself defeat eligibility where operations conform to the society's registration and bye-laws. Interest from investments with a co-operative society engaged in banking may qualify under Section 80P(2)(d), or under Section 80P(2)(a)(i) where attributable to business. Section 80P(4) does not alter a co-operative bank's status as a co-operative society under State law. Audit-fee disallowance for tax withholding may be removed if Form 26A establishes the payee's tax compliance. Case-Laws Income Tax Fri, 25 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470754