https://www.taxtmi.com/caselaws?id=61587 The Tribunal determined that the assessee, a cooperative society, is entitled to a deduction under Section 80P(2)(d) for interest earned on advances to other cooperative societies. However, the deduction must be calculated on the net interest income, after deducting expenses directly attributable to earning such income. The appeal was partly allowed, affirming the deduction entitlement but requiring it to be computed on a net basis. en-us Thu, 27 Apr 2006 00:00:00 +0530 Wed, 20 Mar 2024 17:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61587 The Tribunal determined that the assessee, a cooperative society, is entitled to a deduction under Section 80P(2)(d) for interest earned on advances to other cooperative societies. However, the deduction must be calculated on the net interest income, after deducting expenses directly attributable to earning such income. The appeal was partly allowed, affirming the deduction entitlement but requiring it to be computed on a net basis. Case-Laws Income Tax Thu, 27 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61587