https://www.taxtmi.com/caselaws?id=197743 The Tribunal partially allowed the appeal, granting the assessee the benefit of deduction u/s. 80P(2) based on the society's classification and activities under the Kerala Cooperative Societies Act. The interest income from the Government Treasury was deemed eligible for deduction u/s. 80P(2)(a)(i) as "income from business," overturning the decision to categorize it as "income from other sources." The Income Tax Authorities were found unjustified in denying the deduction. The Stay Petition was dismissed. en-us Mon, 31 Oct 2016 00:00:00 +0530 Mon, 15 Jan 2018 07:39:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197743 The Tribunal partially allowed the appeal, granting the assessee the benefit of deduction u/s. 80P(2) based on the society's classification and activities under the Kerala Cooperative Societies Act. The interest income from the Government Treasury was deemed eligible for deduction u/s. 80P(2)(a)(i) as "income from business," overturning the decision to categorize it as "income from other sources." The Income Tax Authorities were found unjustified in denying the deduction. The Stay Petition was dismissed. Case-Laws Income Tax Mon, 31 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197743