https://www.taxtmi.com/caselaws?id=305530 The Tribunal upheld the CIT(A)'s decision, allowing the deduction under section 80P(2)(a)(i) for interest income from deposits with non-cooperative banks. The Tribunal differentiated the case from Totgar's Cooperative Sale Society Ltd. The decision was based on the broader interpretation of "attributable" under section 80P(2)(a)(i) and previous favorable Tribunal decisions. The ruling emphasized that the interest income was related to the business of providing credit facilities to members, making it eligible for deduction. The Revenue's appeal was dismissed, affirming the deduction eligibility. en-us Fri, 22 Jul 2016 00:00:00 +0530 Fri, 09 Dec 2022 20:43:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305530 The Tribunal upheld the CIT(A)'s decision, allowing the deduction under section 80P(2)(a)(i) for interest income from deposits with non-cooperative banks. The Tribunal differentiated the case from Totgar's Cooperative Sale Society Ltd. The decision was based on the broader interpretation of "attributable" under section 80P(2)(a)(i) and previous favorable Tribunal decisions. The ruling emphasized that the interest income was related to the business of providing credit facilities to members, making it eligible for deduction. The Revenue's appeal was dismissed, affirming the deduction eligibility. Case-Laws Income Tax Fri, 22 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305530