https://www.taxtmi.com/caselaws?id=263878 The Tribunal allowed the appeal of the cooperative society, ruling in favor of granting the deduction u/s.80P(2)(d) of the Income-tax Act for the interest earned on deposits with cooperative banks. The decision emphasized that interest income from such deposits was attributable to the business of providing credit facilities, making the society eligible for the deduction. This clarified the eligibility of the society for claiming deductions under specific sections of the Act based on the nature of income and its connection to the society's business activities. en-us Wed, 26 Aug 2015 00:00:00 +0530 Sat, 12 Sep 2015 07:42:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263878 The Tribunal allowed the appeal of the cooperative society, ruling in favor of granting the deduction u/s.80P(2)(d) of the Income-tax Act for the interest earned on deposits with cooperative banks. The decision emphasized that interest income from such deposits was attributable to the business of providing credit facilities, making the society eligible for the deduction. This clarified the eligibility of the society for claiming deductions under specific sections of the Act based on the nature of income and its connection to the society's business activities. Case-Laws Income Tax Wed, 26 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263878