https://www.taxtmi.com/caselaws?id=181802 Deduction under section 80P was upheld for miscellaneous income and for interest from bill discounting, letters of credit, bank guarantee commission and foreign exchange dealing profits. The Tribunal treated the miscellaneous income claim as allowable because the same position had been accepted in the immediately preceding year on identical facts, and no contrary basis was shown. It also held that, for a co-operative society carrying on banking business, these receipts were attributable to the banking business and therefore fell within section 80P(1) read with section 80P(2)(a)(i). The Revenue's appeal failed in full. en-us Wed, 07 Sep 2011 00:00:00 +0530 Tue, 07 Aug 2018 09:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181802 Deduction under section 80P was upheld for miscellaneous income and for interest from bill discounting, letters of credit, bank guarantee commission and foreign exchange dealing profits. The Tribunal treated the miscellaneous income claim as allowable because the same position had been accepted in the immediately preceding year on identical facts, and no contrary basis was shown. It also held that, for a co-operative society carrying on banking business, these receipts were attributable to the banking business and therefore fell within section 80P(1) read with section 80P(2)(a)(i). The Revenue's appeal failed in full. Case-Laws Income Tax Wed, 07 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181802