https://www.taxtmi.com/caselaws?id=171272 The Tribunal held that a cooperative society is entitled to a deduction under Section 80P(2)(a)(i) for profits from providing credit facilities, as Section 80P(4) applies only to cooperative banks. However, interest income from bank deposits is taxable under Section 56, not eligible for the deduction. The decision affirmed that the cooperative society is entitled to the deduction except for interest income on bank deposits, which is taxable. en-us Fri, 21 Feb 2014 00:00:00 +0530 Wed, 15 Jul 2015 17:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171272 The Tribunal held that a cooperative society is entitled to a deduction under Section 80P(2)(a)(i) for profits from providing credit facilities, as Section 80P(4) applies only to cooperative banks. However, interest income from bank deposits is taxable under Section 56, not eligible for the deduction. The decision affirmed that the cooperative society is entitled to the deduction except for interest income on bank deposits, which is taxable. Case-Laws Income Tax Fri, 21 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171272