https://www.taxtmi.com/caselaws?id=433542 The Tribunal upheld the CIT(A)'s ruling that interest income from SSNNL, derived from surplus funds of the assessee society, was not eligible for deduction under Section 80P(2)(a)(i). The decision emphasized the distinction between investments in cooperative societies and non-cooperative entities, citing legal precedents and Supreme Court's position on income derived from non-members. The appeal was dismissed, highlighting the importance of the source of funds used for investments in determining eligibility for deductions under Section 80P(2)(a)(i). en-us Mon, 30 Jan 2023 00:00:00 +0530 Thu, 02 Feb 2023 08:57:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433542 The Tribunal upheld the CIT(A)'s ruling that interest income from SSNNL, derived from surplus funds of the assessee society, was not eligible for deduction under Section 80P(2)(a)(i). The decision emphasized the distinction between investments in cooperative societies and non-cooperative entities, citing legal precedents and Supreme Court's position on income derived from non-members. The appeal was dismissed, highlighting the importance of the source of funds used for investments in determining eligibility for deductions under Section 80P(2)(a)(i). Case-Laws Income Tax Mon, 30 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433542