https://www.taxtmi.com/caselaws?id=412108 The appeal was dismissed by the ITAT as the interest income earned from a co-operative bank was not eligible for deduction under section 80P(2)(d) of the Income Tax Act. The ITAT held that interest income from idle funds placed with a co-operative bank does not change its character and is not operational income from providing credit facilities to members. Additionally, the Miscellaneous Application filed by the assessee was deemed not maintainable as it was filed beyond the prescribed time limit, leading to its dismissal by the ITAT on 07-09-2021. en-us Tue, 07 Sep 2021 00:00:00 +0530 Fri, 10 Sep 2021 09:06:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412108 The appeal was dismissed by the ITAT as the interest income earned from a co-operative bank was not eligible for deduction under section 80P(2)(d) of the Income Tax Act. The ITAT held that interest income from idle funds placed with a co-operative bank does not change its character and is not operational income from providing credit facilities to members. Additionally, the Miscellaneous Application filed by the assessee was deemed not maintainable as it was filed beyond the prescribed time limit, leading to its dismissal by the ITAT on 07-09-2021. Case-Laws Income Tax Tue, 07 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412108