https://www.taxtmi.com/caselaws?id=372309 Interest earned on fixed deposits made from a statutory reserve fund, and invested in approved banking institutions in compliance with co-operative society obligations, was treated as attributable to the society's business and eligible for deduction under section 80P(2)(a)(i). The Tribunal distinguished such reserve fund investments from mere deployment of surplus funds and followed its earlier view in the assessee's own case. By contrast, interest on savings account deposits with the same bank was held to stand on a different footing and was not eligible for the deduction. en-us Tue, 18 Dec 2018 00:00:00 +0530 Thu, 20 Dec 2018 08:17:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372309 Interest earned on fixed deposits made from a statutory reserve fund, and invested in approved banking institutions in compliance with co-operative society obligations, was treated as attributable to the society's business and eligible for deduction under section 80P(2)(a)(i). The Tribunal distinguished such reserve fund investments from mere deployment of surplus funds and followed its earlier view in the assessee's own case. By contrast, interest on savings account deposits with the same bank was held to stand on a different footing and was not eligible for the deduction. Case-Laws Income Tax Tue, 18 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372309