https://www.taxtmi.com/caselaws?id=306623 Section 80P(2)(a)(i) was discussed in relation to interest income earned by a co-operative credit society from associate members and from deposits with co-operative banks. The article states that deduction was allowed on interest from associate members because associate members recognised under State cooperative law were not treated as disqualifying the claim merely on that ground, and a liberal construction of section 80P was applied. On deposits with co-operative banks, the issue turned on the recipient's regulatory status under banking law versus State cooperative law; because the facts were unclear, the matter was remanded for verification and fresh decision. en-us Wed, 20 Jul 2022 00:00:00 +0530 Wed, 15 Feb 2023 08:51:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306623 Section 80P(2)(a)(i) was discussed in relation to interest income earned by a co-operative credit society from associate members and from deposits with co-operative banks. The article states that deduction was allowed on interest from associate members because associate members recognised under State cooperative law were not treated as disqualifying the claim merely on that ground, and a liberal construction of section 80P was applied. On deposits with co-operative banks, the issue turned on the recipient's regulatory status under banking law versus State cooperative law; because the facts were unclear, the matter was remanded for verification and fresh decision. Case-Laws Income Tax Wed, 20 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306623