https://www.taxtmi.com/highlights?id=71907 Disallowance of deduction claimed u/s. 80P - the funds available are for the business purpose of providing credit facilities - It is only because in a given point of time, there is no demand for loan that they have been parked with the banks as fixed deposit - Assessee is entitled for deduction of interest income earned from deposits made by it with banks which has arisen out of deposits received from its members pursuant to conduct of business of providing credit facilities to its members. - AT en-us Sat, 09 Sep 2023 09:37:12 +0530 Sat, 09 Sep 2023 09:37:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=71907 Disallowance of deduction claimed u/s. 80P - the funds available are for the business purpose of providing credit facilities - It is only because in a given point of time, there is no demand for loan that they have been parked with the banks as fixed deposit - Assessee is entitled for deduction of interest income earned from deposits made by it with banks which has arisen out of deposits received from its members pursuant to conduct of business of providing credit facilities to its members. - AT Highlights Income Tax Sat, 09 Sep 2023 09:37:12 +0530 https://www.taxtmi.com/highlights?id=71907