https://www.taxtmi.com/caselaws?id=396255 The Appellate Tribunal ITAT DELHI allowed the appeal of the cooperative society, holding that it is eligible for exemption under section 80P(2)(a)(i) of the Income Tax Act, 1961. The Tribunal ruled that interest income earned on fixed deposits and savings accounts should be considered business income, not income from other sources. Consequently, the Tribunal granted the exemption claimed by the society, overturning the decisions of the lower authorities and emphasizing the cooperative society's eligibility for the tax deduction under the specified section. en-us Thu, 25 Jun 2020 00:00:00 +0530 Sat, 27 Jun 2020 21:55:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396255 The Appellate Tribunal ITAT DELHI allowed the appeal of the cooperative society, holding that it is eligible for exemption under section 80P(2)(a)(i) of the Income Tax Act, 1961. The Tribunal ruled that interest income earned on fixed deposits and savings accounts should be considered business income, not income from other sources. Consequently, the Tribunal granted the exemption claimed by the society, overturning the decisions of the lower authorities and emphasizing the cooperative society's eligibility for the tax deduction under the specified section. Case-Laws Income Tax Thu, 25 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396255