Appellant Not a Co-operative Bank u/s 80P(4); Deduction Allowed u/s 80P(2)(a)(i) of Income Tax Act.

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....Deduction u/s 80P(2)(a)(i) - the three conditions as provided under Section 5 (CVV) of the Banking Regulation Act, 1949, are to be satisfied cumulatively and except condition (2) the other two qualifying conditions are not satisfied. Ergo, appellant cannot be considered to be a co-operative bank for the purposes of Section 80P(4) of the Act. - Deduction allowed - HC....