https://www.taxtmi.com/caselaws?id=408607 A co-operative society's credit-facility income qualified for deduction under section 80P(2)(a)(i) because eligibility turns on the member-related activity actually carried on; the presence of associate or nominal members did not by itself defeat the claim, though income attributable to non-member transactions remained outside the deduction. Interest earned from investments with co-operative societies also qualified under section 80P(2)(d), since the exclusion for co-operative banks did not bar a co-operative society's claim on such income. Where payments to members fell within the TDS exemption in section 194A(3)(v), disallowance under section 40(a)(ia) could not survive. en-us Fri, 11 Jun 2021 00:00:00 +0530 Wed, 16 Jun 2021 10:36:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408607 A co-operative society's credit-facility income qualified for deduction under section 80P(2)(a)(i) because eligibility turns on the member-related activity actually carried on; the presence of associate or nominal members did not by itself defeat the claim, though income attributable to non-member transactions remained outside the deduction. Interest earned from investments with co-operative societies also qualified under section 80P(2)(d), since the exclusion for co-operative banks did not bar a co-operative society's claim on such income. Where payments to members fell within the TDS exemption in section 194A(3)(v), disallowance under section 40(a)(ia) could not survive. Case-Laws Income Tax Fri, 11 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408607