https://www.taxtmi.com/caselaws?id=754753 Interest earned by a primary agricultural co-operative society on surplus funds parked as deposits was treated as attributable to its member-credit activity, so deduction under section 80P(2)(a)(i) was available and section 80P(4) did not apply on those facts. Paddy procurement income under section 80P(2)(a)(iii) required fresh verification because the record did not conclusively show whether procurement and marketing were confined to members or extended to non-members; the matter was remanded for limited reconsideration. Dividend income derived from investments with a co-operative bank was held to qualify for deduction under section 80P(2)(d), as income from such investments fell within the provision's scope. en-us Wed, 21 Feb 2024 00:00:00 +0530 Fri, 28 Jun 2024 12:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754753 Interest earned by a primary agricultural co-operative society on surplus funds parked as deposits was treated as attributable to its member-credit activity, so deduction under section 80P(2)(a)(i) was available and section 80P(4) did not apply on those facts. Paddy procurement income under section 80P(2)(a)(iii) required fresh verification because the record did not conclusively show whether procurement and marketing were confined to members or extended to non-members; the matter was remanded for limited reconsideration. Dividend income derived from investments with a co-operative bank was held to qualify for deduction under section 80P(2)(d), as income from such investments fell within the provision's scope. Case-Laws Income Tax Wed, 21 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754753