https://www.taxtmi.com/caselaws?id=272202 The Tribunal allowed the appeals filed by the Co-operative Building Society Limited concerning the deduction under section 80P of the Income Tax Act and the taxability of interest income from fixed deposits. The Tribunal upheld the eligibility of the society for the deduction under section 80P and deemed the interest income from bank deposits as attributable to the business of banking, making it eligible for the deduction. The Tribunal emphasized the significance of statutory provisions and legal precedents in determining the tax treatment of income for Co-operative Building Societies. en-us Fri, 22 Jan 2016 00:00:00 +0530 Tue, 01 Mar 2016 11:41:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272202 The Tribunal allowed the appeals filed by the Co-operative Building Society Limited concerning the deduction under section 80P of the Income Tax Act and the taxability of interest income from fixed deposits. The Tribunal upheld the eligibility of the society for the deduction under section 80P and deemed the interest income from bank deposits as attributable to the business of banking, making it eligible for the deduction. The Tribunal emphasized the significance of statutory provisions and legal precedents in determining the tax treatment of income for Co-operative Building Societies. Case-Laws Income Tax Fri, 22 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272202