https://www.taxtmi.com/caselaws?id=416318 Kerala HC ruled on co-operative society's deduction claims under Section 80P(2). The court held that interest income from loans to members qualifies for deduction under Section 80P(2)(a)(i). However, interest from deposits with co-operative banks falls under Section 80P(2)(d) as income from other sources, eligible for deduction only if earned from co-operative societies registered under Kerala Co-operative Societies Act. Interest from treasury deposits is inadmissible for deduction. The court answered substantial questions in favor of the assessee regarding member loans but partially against revenue regarding deposit interest. en-us Mon, 01 Nov 2021 00:00:00 +0530 Fri, 13 Jun 2025 15:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416318 Kerala HC ruled on co-operative society's deduction claims under Section 80P(2). The court held that interest income from loans to members qualifies for deduction under Section 80P(2)(a)(i). However, interest from deposits with co-operative banks falls under Section 80P(2)(d) as income from other sources, eligible for deduction only if earned from co-operative societies registered under Kerala Co-operative Societies Act. Interest from treasury deposits is inadmissible for deduction. The court answered substantial questions in favor of the assessee regarding member loans but partially against revenue regarding deposit interest. Case-Laws Income Tax Mon, 01 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416318