https://www.taxtmi.com/caselaws?id=311976 Interest earned by a co-operative society on investments made from reserve funds may qualify as business income for deduction if the investments were made under a statutory compulsion and were necessary for carrying on the society's business. The text emphasises that eligibility under section 80P(2)(a)(i) depends on verifying the compulsory nature of the deposits under the Karnataka Co-operative Societies Act and Rules. If that factual condition is established, the deduction is to be allowed. en-us Tue, 03 Oct 2023 00:00:00 +0530 Wed, 24 Jan 2024 19:05:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311976 Interest earned by a co-operative society on investments made from reserve funds may qualify as business income for deduction if the investments were made under a statutory compulsion and were necessary for carrying on the society's business. The text emphasises that eligibility under section 80P(2)(a)(i) depends on verifying the compulsory nature of the deposits under the Karnataka Co-operative Societies Act and Rules. If that factual condition is established, the deduction is to be allowed. Case-Laws Income Tax Tue, 03 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311976