Sec. 80P(2)(a)(i) of Income Tax Act, 1961— Deduction — There should be fresh examination by the Assessing Officer as regards the nature of each loan disbursement and purpose for which it has been disbursed, i.e., whether it for agricultural purpose or not and A.O. shall list out the instances where loans have disbursed for non-agricultural purposes and accordingly conclude that the assessee’s activities are not in compliance with the activities of primary agricultural credit society functioning under the Kerala Co-operative Societies Act, 1969, before denying the claim of deduction u/s 80P(2) , therefore, the issue raised in this appeal is restored to the files of the Assessing Officer and Assessing Officer shall examine the activities of the assessee-societies - VARAPUZHA SERVICE CO-OPERATIVE BANK LIMITED V/s ITO - [2020] 27 ITCD Online 029 (ITAT-COCHIN)