https://www.taxtmi.com/caselaws?id=250218 The High Court allowed the petition, granting the Cooperative Bank exemption under Section 80P(2)(a)(i) of the Income-Tax Act for interest received on investments. Relying on past court decisions, the court held that Cooperative Banks are entitled to this exemption for interest earned on permissible investments, distinguishing banking activities from credit facilities. The decision aligned with legal precedents, quashing the order disallowing the exemption and affirming the bank's eligibility for tax exemption on interest income from investments. en-us Thu, 10 Jul 2014 00:00:00 +0530 Wed, 06 Aug 2014 08:48:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250218 The High Court allowed the petition, granting the Cooperative Bank exemption under Section 80P(2)(a)(i) of the Income-Tax Act for interest received on investments. Relying on past court decisions, the court held that Cooperative Banks are entitled to this exemption for interest earned on permissible investments, distinguishing banking activities from credit facilities. The decision aligned with legal precedents, quashing the order disallowing the exemption and affirming the bank's eligibility for tax exemption on interest income from investments. Case-Laws Income Tax Thu, 10 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250218