Co-op credit society Eligible for Section 80P(2)(a)(i) deduction

JCIT Vs Kanchangauri Mahila Sahakari Patpedhi Maryadit (ITAT Mumbai)

In the present case, the assessee is co-operative credit society. The assessee is an AOP engaged in providing credit facilities to its members and interest is charged on these credit facilities/loans advances made by the assessee, while the assessee has also received deposits from its members and paid interest on these deposits. The assessee has claimed deduction u/s 80P(2)(a)(i) which was disallowed by the AO by invoking provision of Section 80P(4) of the

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