https://www.taxtmi.com/caselaws?id=268983 The Tribunal allowed the appeal, determining that the interest income earned by the cooperative credit society is assessable as profits and gains of business, making it eligible for deduction under section 80P(2)(a)(i) of the Act. The decision was based on the finding that the interest income is attributable to the business activities of providing credit facilities, thus aligning with relevant legal precedents and overturning the lower authorities' denial of the deduction. en-us Fri, 14 Aug 2015 00:00:00 +0530 Wed, 13 May 2026 16:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268983 The Tribunal allowed the appeal, determining that the interest income earned by the cooperative credit society is assessable as profits and gains of business, making it eligible for deduction under section 80P(2)(a)(i) of the Act. The decision was based on the finding that the interest income is attributable to the business activities of providing credit facilities, thus aligning with relevant legal precedents and overturning the lower authorities' denial of the deduction. Case-Laws Income Tax Fri, 14 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268983