https://www.taxtmi.com/caselaws?id=333693 Interest earned by a co-operative society on temporary bank deposits of surplus member funds is attributable to its business of providing credit facilities to members and qualifies for deduction under section 80P(2)(a)(i). The wider expression "attributable to" was applied as broader than "derived from", so the interest was treated as connected to the society's lending activity rather than as income from an independent source. On the facts accepted, the section 80P(4) exclusion did not apply, and the deduction remained available. en-us Fri, 26 Aug 2016 00:00:00 +0530 Fri, 21 Oct 2016 08:15:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333693 Interest earned by a co-operative society on temporary bank deposits of surplus member funds is attributable to its business of providing credit facilities to members and qualifies for deduction under section 80P(2)(a)(i). The wider expression "attributable to" was applied as broader than "derived from", so the interest was treated as connected to the society's lending activity rather than as income from an independent source. On the facts accepted, the section 80P(4) exclusion did not apply, and the deduction remained available. Case-Laws Income Tax Fri, 26 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333693