2014 (9) TMI 1188

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....d this appeal against the order passed by the Tribunal. 2. The substantial question of law, which is raised in this appeal, is as under:- "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the assessee - society is entitled to deduction under Section 80P(2)(a)(i) of the Income Tax Act?" 3. The said question came up for consideration ....

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....king Regulation Act includes the primary agricultural credit society or a primary co- operative agricultural rural development bank. The Legislature did not want to deny the said benefit to a primary agricultural credit society or a primary co-operative agricultural and rural development bank. They did not want to extend the said benefit to a co-operative bank which is exclusively carrying on b....