Income Tax Act: Section 80P(2)(a)(i) Deduction Applies to All Assessees Lending to Members, Excludes Non-Member Loans.

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....Deduction u/s 80P(2)(a) (i) - the credits given to such members being for purposes other than agricultural credit - once section 80P(4) is out of harm’s way, all the assessees in the present case are entitled to the benefit of the deduction contained in section 80P(2)(a)(i), notwithstanding that they may also be giving loans to their members which are not related to agriculture. Also, in case it is found that there are instances of loans being given to non-members, profits attributable to such loans obviously cannot be deducted. - SC....