https://www.taxtmi.com/caselaws?id=393967 The ITAT Delhi dismissed the appeal of a cooperative society, ruling that interest income from fixed deposit receipts and savings bank accounts was not eligible for deduction under section 80P of the Income Tax Act. The decision was based on the distinction between operational income and other income, following a Supreme Court judgment that interest income from surplus investments is taxable under section 56, not qualifying for deduction under section 80P. en-us Tue, 17 Mar 2020 00:00:00 +0530 Thu, 26 Mar 2020 12:28:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393967 The ITAT Delhi dismissed the appeal of a cooperative society, ruling that interest income from fixed deposit receipts and savings bank accounts was not eligible for deduction under section 80P of the Income Tax Act. The decision was based on the distinction between operational income and other income, following a Supreme Court judgment that interest income from surplus investments is taxable under section 56, not qualifying for deduction under section 80P. Case-Laws Income Tax Tue, 17 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393967