Kerala State Co-Operative Agricultural and Rural Development Bank Ltd. v Dy. CIT (2020)423 ITR 350 (Ker) (HC)

S.80P: Co-Operative Society —Interest from credit to employees — Not entitled to deduction .

Dismissing the appeal of the assessee the Court held that ,  the interest income was received from credit facilities extended to the employee and the employee of a member, for personal purposes would not fall within sub-clause (i) of clause (a) of section 80P(2) .Not entitle to deduction .