Credit Co-operative Society Entitled to Deductions under Income Tax Act Section 80P(2)(i), Not Recognized as a Bank.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Deduction u/s 80P(2)(i) - the assessee is not a recognized bank as per the provision of RBI and there is a difference between the Co-operative bank and in the Credit Co-operative Society - Assessee being a Credit Co-operative Society is not in the banking business, entitled for deduction u/s 80P....