https://www.taxtmi.com/caselaws?id=326740 The Tribunal allowed the appeals, overturning the disallowances made by the lower authorities, holding that the assessee was eligible for deductions under section 80P(2)(a)(i) for interest income earned on unutilized funds deposited with the bank for business purposes. The interest income from deposits with a cooperative bank was considered as earned from members, aligning with the society's objectives, and qualified for the deduction as it was earned in the course of the society's business activities. en-us Mon, 29 Feb 2016 00:00:00 +0530 Sat, 23 Apr 2016 10:54:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326740 The Tribunal allowed the appeals, overturning the disallowances made by the lower authorities, holding that the assessee was eligible for deductions under section 80P(2)(a)(i) for interest income earned on unutilized funds deposited with the bank for business purposes. The interest income from deposits with a cooperative bank was considered as earned from members, aligning with the society's objectives, and qualified for the deduction as it was earned in the course of the society's business activities. Case-Laws Income Tax Mon, 29 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326740