https://www.taxtmi.com/caselaws?id=360981 Interest on deposits with sub-treasuries and co-operative banks did not qualify for deduction under section 80P(2)(d) because that provision is confined to interest or dividend derived from investments with another co-operative society, and that statutory condition was not met. The claim under section 80P(2)(a)(i) depended on whether the deposits were made in the ordinary course of the co-operative society's banking or credit business and whether the income was attributable to that activity. As the factual record was insufficient for a final decision, the matter was remanded for fresh consideration under the business nexus test. en-us Fri, 25 May 2018 00:00:00 +0530 Sat, 26 May 2018 08:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360981 Interest on deposits with sub-treasuries and co-operative banks did not qualify for deduction under section 80P(2)(d) because that provision is confined to interest or dividend derived from investments with another co-operative society, and that statutory condition was not met. The claim under section 80P(2)(a)(i) depended on whether the deposits were made in the ordinary course of the co-operative society's banking or credit business and whether the income was attributable to that activity. As the factual record was insufficient for a final decision, the matter was remanded for fresh consideration under the business nexus test. Case-Laws Income Tax Fri, 25 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360981