Credit co-operative society providing credit facilities to members can claim deduction u/s 80P(2)(a)(i)

ITO Vs. The Somavamsha Sahasrajuna Kshatriya Credit Co-operative Society (ITAT Bangalore) The question for consideration and adjudication before us is whether the assesee, admittedly a credit co-operative society engaged in providing credit facilities, etc., to its members, is entitled to be allowed deduction claimed u/s 80P(2)(a)(i) of the Act or whether the said claim is hit by the provisions of sec. 80P(4) of the Act. We find that this issue stands squarely covered in favour of the assessee and against Revenue, by the decision of the co-ordinate bench of this Tribunal in its order in ITA No...