https://www.taxtmi.com/caselaws?id=361338 Interest earned by a primary agricultural credit society on deposits placed with sub-treasuries was treated as attributable to its banking or credit facilities activity, not as income from other sources. The Tribunal noted that the society was engaged in providing credit facilities to its members, though it did not hold an RBI banking licence, and applied earlier rulings that investments made in the course of such business form part of the society's business income. On that basis, the interest income qualified for deduction under section 80P(2)(a)(i) of the Income-tax Act, 1961. en-us Thu, 31 May 2018 00:00:00 +0530 Fri, 27 Jul 2018 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361338 Interest earned by a primary agricultural credit society on deposits placed with sub-treasuries was treated as attributable to its banking or credit facilities activity, not as income from other sources. The Tribunal noted that the society was engaged in providing credit facilities to its members, though it did not hold an RBI banking licence, and applied earlier rulings that investments made in the course of such business form part of the society's business income. On that basis, the interest income qualified for deduction under section 80P(2)(a)(i) of the Income-tax Act, 1961. Case-Laws Income Tax Thu, 31 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361338