The court set aside the assessment order and remanded the matter to the Assessing Officer to reconsider the matter in the light of the judgment of the Supreme Court in Mavilayi  Service Co-Operative Bank Ltd. v. CIT  (2021) 431 ITR 1 (SC) wherein the Supreme Court considering the definition of “member” in the State Act and expressly permitting loans to non-members held that loans given to nominal members qualified for the purpose of deduction under section 80P(2)(a)(i) of the 1961 Act) with reference to sections 2(f) and 60 of the Karnataka Co-operative Societies Act, 1959, read with section 80P(2)(a)(i) of the 1961 Act. (AY.2013-14)