https://www.taxtmi.com/caselaws?id=282949 Interest earned by a co-operative society from surplus bank deposits was treated as attributable to the business of providing credit facilities to its members, because the funds were temporarily parked when not immediately required for lending and were not amounts due to members or shown as liabilities. On those facts, the income was held eligible for deduction under section 80P(2)(a)(i), and the disallowance of bank interest was reversed. en-us Fri, 22 Apr 2016 00:00:00 +0530 Sat, 31 Aug 2019 16:49:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282949 Interest earned by a co-operative society from surplus bank deposits was treated as attributable to the business of providing credit facilities to its members, because the funds were temporarily parked when not immediately required for lending and were not amounts due to members or shown as liabilities. On those facts, the income was held eligible for deduction under section 80P(2)(a)(i), and the disallowance of bank interest was reversed. Case-Laws Income Tax Fri, 22 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282949