https://www.taxtmi.com/caselaws?id=271593 The Tribunal allowed the appeal for A.Y. 2012-13, granting the deduction under Section 80P(2)(a)(i) for interest income earned by a Co-operative Society from fixed deposits with banks. The Tribunal relied on precedents emphasizing that interest income from deposits is attributable to the business of providing credit facilities, qualifying for the deduction. Conversely, the appeal for A.Y. 2010-11 was dismissed due to the finality of the CIT(A)'s order, highlighting the importance of timely challenging appellate decisions and clarifying the deduction applicability for co-operative societies' interest income. en-us Fri, 05 Feb 2016 00:00:00 +0530 Wed, 10 Feb 2016 08:15:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271593 The Tribunal allowed the appeal for A.Y. 2012-13, granting the deduction under Section 80P(2)(a)(i) for interest income earned by a Co-operative Society from fixed deposits with banks. The Tribunal relied on precedents emphasizing that interest income from deposits is attributable to the business of providing credit facilities, qualifying for the deduction. Conversely, the appeal for A.Y. 2010-11 was dismissed due to the finality of the CIT(A)'s order, highlighting the importance of timely challenging appellate decisions and clarifying the deduction applicability for co-operative societies' interest income. Case-Laws Income Tax Fri, 05 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271593