Dismissing the appeals of the revenue the Court held that the definition of the word \u201cmember\u201d in S. \u00a02(16)\u00a0of the\u00a0Tamil Nadu Co-operative Societies Act, 1983\u00a0included an associate member. Therefore, the Assessing Officer fell into an error in drawing a distinction between A class members and B class members. If the co-operative society satisfied the description of a society carrying on the business of providing credit facilities to its members, the assessee became entitled to the benefit of S.\u00a080P\u00a0subject to the provisions contained in S.\u00a080P(2) of the Act. Court also held that the \u00a0\u00a0assessee being a primary agricultural co-operative credit society was entitled to the benefit under S\u00a080P\u00a0. The Assessing Officer himself had found that the associate members of the assessee-society were also admitted as members of the society. He had not pointed out that loans had been disbursed to all and sundry under the provisions of the 1983 Act. Under S. \u00a080P(4)(b)\u00a0of the\u00a0 Act, the society had an area of operation within the taluk and provided long-term credit for agricultural and rural development activities as well. Order of Appellate Tribunal is affirmed .( AY.2013-14, 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 80P : Co-operative societies \u2013 Member \u2013 Share holding member and associate member – Assessing Officer cannot draw distinction between shareholding members and associate members \u2014 Entitle to deduction [S.80P(4)(b) , Tamil Nadu Co-Operative Societies Act, 1983, S. 2(16) ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-12643","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3hV","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12643","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=12643"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12643\/revisions"}],"predecessor-version":[{"id":12644,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12643\/revisions\/12644"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=12643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=12643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=12643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}