https://www.taxtmi.com/caselaws?id=472530 Section 80P(2)(a)(i) allows a co-operative society to deduct the whole of profits and gains attributable to banking business or providing credit facilities to its members. A co-operative society providing member credit facilities under parent-body and NABARD guidelines remains eligible where it does not undertake banking business within the Banking Regulation Act definition. Providing credit facilities alone does not make such a society a co-operative bank, so the statutory deduction applies to qualifying profits from member credit facilities. en-us Mon, 21 Apr 2025 00:00:00 +0530 Wed, 14 Oct 2026 18:57:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472530 Section 80P(2)(a)(i) allows a co-operative society to deduct the whole of profits and gains attributable to banking business or providing credit facilities to its members. A co-operative society providing member credit facilities under parent-body and NABARD guidelines remains eligible where it does not undertake banking business within the Banking Regulation Act definition. Providing credit facilities alone does not make such a society a co-operative bank, so the statutory deduction applies to qualifying profits from member credit facilities. Case-Laws Income Tax Mon, 21 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472530