https://www.taxtmi.com/caselaws?id=470754 Section 80P is described as a beneficial provision to be construed liberally for registered co-operative societies providing credit facilities to members. The notes state that limited lending to associate members does not by itself defeat eligibility where operations comply with the society's registration and bye-laws. They further state that interest from investments with another co-operative society conducting banking business may qualify for deduction, either as interest from a co-operative society or where attributable to the assessee's business. Audit-fee disallowance for non-deduction of tax at source is stated to require verification of Form 26A confirming that the recipient included the income in its tax return. 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 is described as a beneficial provision to be construed liberally for registered co-operative societies providing credit facilities to members. The notes state that limited lending to associate members does not by itself defeat eligibility where operations comply with the society's registration and bye-laws. They further state that interest from investments with another co-operative society conducting banking business may qualify for deduction, either as interest from a co-operative society or where attributable to the assessee's business. Audit-fee disallowance for non-deduction of tax at source is stated to require verification of Form 26A confirming that the recipient included the income in its tax return. Case-Laws Income Tax Fri, 25 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470754