primary agricultural credit
society or a primary co-operative agricultural and rural
development bank.
Explanation : For the purposes of this sub-section ... primary co-operative agricultural and rural development
bank" means a society having its area of operation confined to a
taluk and the principal object
primary agricultural
credit society or a primary co-operative agricultural and rural
development bank.
Explanation.—For the purposes of this sub-section,—
(a) “co-operative ... rural
credit society” and “state co-operative bank” shall
have the meanings respectively assigned to them
in the National Bank for Agriculture and Rural
Development
State Co-operative Bank, the State Co-operative
Agricultural and Rural development Bank and the District Co-
operative Banks may open branches in the area ... substituted
as follows; "The Kerala State Co-operative Agricultural and Rural
Development Bank and all primary co-operative societies/banks
may open branches
Kerala State Co-op Agricultural & Vs The Assistant Commissioner of
Rural Development Bank Ltd., Income-tax, Circle-1(2), Trivandrum.
Trivandrum
( अपीलाथ /Assessee - Appellant ... Kerala State Co-op Agricultural
tax, Circle-1(2), Trivandrum. & Rural Development Bank Ltd.,
Trivandrum
( अपीलाथ /Revenue - Appellant) (ूतयथ
् /Assessee -Respondent)
PAN No. AAAAK
said Act defines “Rural
Development” to mean any activity intended to promote the development
in rural area and includes the following developmental activities:
i) Development ... Bank;
X X X
34
(iA) “Rural Development” means any activity
intended to promote the development in rural area
and intends the following developmental activities
operative
bank, primary rural credit society and State co-operative
bank, as found in the National Bank for Agriculture and
Rural Development ... rural bank" and "State
co- operative bank" shall have the meaning assigned to
them by National Bank for Agriculture and Rural
Development
2017
agriculture credit society or a primary co-operative agriculture and
rural development bank, the deduction would still be provided.
Thus, co-operative banks ... Primary Agricultural Credit Society or a Primary Co-
operative Agricultural and Rural Development Bank. For the
8
ITA Nos.2876 & 2631/Bang/2017
purpose
Central government after consultation with the National Bank for
Agriculture and Rural Development (hereinafter referred to as NABARD)
and Syndicate Bank, (which was the sponsor ... Bank, all of whom were Regional Rural Banks) be merged into
one Regional Rural Bank, for the development of the area primarily
served by agriculture
primary agricultural credit society or a primary co-
operative agricultural and rural development bank.
Explanation.- For the purpose of this sub-
section ... Banking
Regulation Act, 1949 ) :
(b) "primary co-operative agricultural and
rural development bank"means a society having its
area of operation confined
primary agricultural credit society or a primary co-operative agricultural
and rural development bank.
Explanation : For the purposes of this sub-section ... primary co-operative agricultural and rural development bank" means a society
having its area of operation confined to a taluk and the principal object
