https://www.taxtmi.com/highlights?id=24699 Denial of deduction u/s.80P - the amount which is in the nature of profits and gains, was not immediately required by the assessee for lending money to the members, as there were no takers. Therefore they had deposited the money in a bank so as to earn interest - it is liable to be deducted u/s 80P(1) - AT en-us Sat, 12 Sep 2015 08:40:07 +0530 Sat, 12 Sep 2015 08:40:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=24699 Denial of deduction u/s.80P - the amount which is in the nature of profits and gains, was not immediately required by the assessee for lending money to the members, as there were no takers. Therefore they had deposited the money in a bank so as to earn interest - it is liable to be deducted u/s 80P(1) - AT Highlights Income Tax Sat, 12 Sep 2015 08:40:07 +0530 https://www.taxtmi.com/highlights?id=24699