Primary Agricultural Co-op Credit Society is eligible for Sec. 80P Deduction

ITO Vs M/s. Edanad- Kannur SCB Ltd. (ITAT Cochin) The undisputed facts are that the assessees in these cases are all primary agricultural credit society and they are registered as such under the Kerala Co­operative Societies Act. The Hon’ble jurisdictional High Court in the case of Chirakkal Service Co-operative Bank Limited & Ors. (supra) had categorically held in para 17 page 14 of the judgment that when a primary agricultural credit Society is registered as such under the Kerala Co-operative Societies Act, 1969, such society is entitled to the benefit of deduction u/s 80P(2) of the I...