2014 (9) TMI 1188

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.... N.K. Kumar, The Revenue has preferred 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?....

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....me is liable for tax. A Co-operative bank as defined under the Banking 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 th....