https://www.taxtmi.com/caselaws?id=421928 Interest earned by a co-operative credit society from bank deposits was treated as income attributable to the society's business and held eligible for deduction under section 80P(2)(a)(i), following binding precedent; the deduction on interest income was allowed. Insurance commission receipts were not finally decided on merits because the Tribunal found the first appellate authority had not properly examined the assessee's business-characterisation plea, so the matter was remanded. The claim for deduction under section 80P(2)(c) was also restored for fresh adjudication, as the record did not clearly show how the claim had arisen and earlier adjudication was incomplete. en-us Mon, 04 Apr 2022 00:00:00 +0530 Thu, 05 May 2022 08:33:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421928 Interest earned by a co-operative credit society from bank deposits was treated as income attributable to the society's business and held eligible for deduction under section 80P(2)(a)(i), following binding precedent; the deduction on interest income was allowed. Insurance commission receipts were not finally decided on merits because the Tribunal found the first appellate authority had not properly examined the assessee's business-characterisation plea, so the matter was remanded. The claim for deduction under section 80P(2)(c) was also restored for fresh adjudication, as the record did not clearly show how the claim had arisen and earlier adjudication was incomplete. Case-Laws Income Tax Mon, 04 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421928