https://www.taxtmi.com/caselaws?id=329918 Interest earned by a co-operative credit society on surplus funds placed with a commercial bank is not treated as income attributable to the business of providing credit facilities to members, so deduction under section 80P(2)(a)(i) is unavailable for that income. The note also explains that section 80P(2)(d) applies only to interest from investments with another co-operative society, not a bank. It further states that revision under section 263 is sustainable where the assessment order fails to examine the tax treatment of such bank-deposit interest and the assessee's claim is not properly bifurcated. en-us Mon, 25 Apr 2016 00:00:00 +0530 Sat, 22 Nov 2025 12:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329918 Interest earned by a co-operative credit society on surplus funds placed with a commercial bank is not treated as income attributable to the business of providing credit facilities to members, so deduction under section 80P(2)(a)(i) is unavailable for that income. The note also explains that section 80P(2)(d) applies only to interest from investments with another co-operative society, not a bank. It further states that revision under section 263 is sustainable where the assessment order fails to examine the tax treatment of such bank-deposit interest and the assessee's claim is not properly bifurcated. Case-Laws Income Tax Mon, 25 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329918