https://www.taxtmi.com/caselaws?id=256995 HC allowed deduction under Section 80P(1) for interest earned on short-term bank deposits by a co-operative society, holding the invested amounts were not members' liabilities but surplus funds deposited when there were no borrowers. The interest was held attributable to carrying on the business of banking and deductible; prior appellate orders denying the deduction were set aside. Decision in favour of the assessee. en-us Tue, 28 Oct 2014 00:00:00 +0530 Wed, 10 Sep 2025 15:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256995 HC allowed deduction under Section 80P(1) for interest earned on short-term bank deposits by a co-operative society, holding the invested amounts were not members' liabilities but surplus funds deposited when there were no borrowers. The interest was held attributable to carrying on the business of banking and deductible; prior appellate orders denying the deduction were set aside. Decision in favour of the assessee. Case-Laws Income Tax Tue, 28 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256995