https://www.taxtmi.com/caselaws?id=800244 Regional Rural Banks treated as co-operative societies for income-tax purposes under the statutory deeming fiction in Section 22 remain eligible for the deduction under Section 80P. The exclusion in Section 80P(4) for co-operative banks does not displace that treatment unless the Regional Rural Bank is established to fall within the relevant co-operative bank categories. An assessment granting the deduction on this basis is legally sustainable and does not satisfy the requirement of being erroneous and prejudicial to revenue for revision under Section 263. en-us Tue, 08 Sep 2026 00:00:00 +0530 Sat, 03 Oct 2026 09:32:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800244 Regional Rural Banks treated as co-operative societies for income-tax purposes under the statutory deeming fiction in Section 22 remain eligible for the deduction under Section 80P. The exclusion in Section 80P(4) for co-operative banks does not displace that treatment unless the Regional Rural Bank is established to fall within the relevant co-operative bank categories. An assessment granting the deduction on this basis is legally sustainable and does not satisfy the requirement of being erroneous and prejudicial to revenue for revision under Section 263. Case-Laws Income Tax Tue, 08 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800244