https://www.taxtmi.com/caselaws?id=201840 The High Court of Himachal Pradesh upheld the Tribunal's decision, ruling in favor of the cooperative society engaged in banking activities. It held that interest earned on deposits made out of non-SLR funds was attributable to banking activities and eligible for deduction under Section 80P(2)(a)(i) of the Income-tax Act, 1961. The court rejected the need for further evidence, emphasizing that such interest was directly linked to banking operations, supporting the broader interpretation of income attribution in cooperative banking. Appeals were dismissed in favor of the assessee, affirming the eligibility for deduction. en-us Tue, 03 Nov 2009 00:00:00 +0530 Fri, 05 Jul 2013 12:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201840 The High Court of Himachal Pradesh upheld the Tribunal's decision, ruling in favor of the cooperative society engaged in banking activities. It held that interest earned on deposits made out of non-SLR funds was attributable to banking activities and eligible for deduction under Section 80P(2)(a)(i) of the Income-tax Act, 1961. The court rejected the need for further evidence, emphasizing that such interest was directly linked to banking operations, supporting the broader interpretation of income attribution in cooperative banking. Appeals were dismissed in favor of the assessee, affirming the eligibility for deduction. Case-Laws Income Tax Tue, 03 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201840