https://www.taxtmi.com/caselaws?id=798100 Souharda Sahakaris registered under the Karnataka Souharda Sahakari Act, 1997 qualify as co-operative societies for income-tax purposes where they provide credit facilities exclusively to members. Dealings with members retain the character of mutuality notwithstanding the character or number of associate members permitted under the bye-laws. Profits and gains attributable to member credit facilities, including income connected with that eligible activity, qualify for deduction under section 80P(2)(a)(i). The deduction extends to the entire eligible income derived from providing such credit facilities to members. en-us Mon, 31 Aug 2026 00:00:00 +0530 Wed, 02 Sep 2026 08:30:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798100 Souharda Sahakaris registered under the Karnataka Souharda Sahakari Act, 1997 qualify as co-operative societies for income-tax purposes where they provide credit facilities exclusively to members. Dealings with members retain the character of mutuality notwithstanding the character or number of associate members permitted under the bye-laws. Profits and gains attributable to member credit facilities, including income connected with that eligible activity, qualify for deduction under section 80P(2)(a)(i). The deduction extends to the entire eligible income derived from providing such credit facilities to members. Case-Laws Income Tax Mon, 31 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798100