https://www.taxtmi.com/caselaws?id=754411 Interest or dividend income from investments with co-operative banks was held not deductible under section 80P(2)(a)(i) or section 80P(2)(d), because the assessee did not establish that it arose from the business of providing credit facilities to members. The contention that such investments were made under statutory compulsion under Karnataka co-operative law required fresh factual examination and was restored to the Assessing Officer. Commission income wrongly claimed under section 80P(2)(a)(iii), and income from storing pledged agricultural produce against loans, were also remanded for verification of the correct statutory character and eligibility under the appropriate limb of section 80P. en-us Tue, 09 Jan 2024 00:00:00 +0530 Mon, 24 Jun 2024 08:12:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754411 Interest or dividend income from investments with co-operative banks was held not deductible under section 80P(2)(a)(i) or section 80P(2)(d), because the assessee did not establish that it arose from the business of providing credit facilities to members. The contention that such investments were made under statutory compulsion under Karnataka co-operative law required fresh factual examination and was restored to the Assessing Officer. Commission income wrongly claimed under section 80P(2)(a)(iii), and income from storing pledged agricultural produce against loans, were also remanded for verification of the correct statutory character and eligibility under the appropriate limb of section 80P. Case-Laws Income Tax Tue, 09 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754411