https://www.taxtmi.com/caselaws?id=456698 ITAT Mumbai allowed deduction u/s 80P(2)(a)(i) to a credit cooperative society. The tribunal held that interest earned from bank deposits constitutes business income attributable to providing credit facilities to members. Relying on precedents including Navbharat Urban Cooperative Credit Society Ltd and other cooperative society cases, the tribunal directed the AO to allow the deduction claim, ruling in favor of the assessee. en-us Wed, 26 Apr 2023 00:00:00 +0530 Fri, 09 Aug 2024 00:18:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456698 ITAT Mumbai allowed deduction u/s 80P(2)(a)(i) to a credit cooperative society. The tribunal held that interest earned from bank deposits constitutes business income attributable to providing credit facilities to members. Relying on precedents including Navbharat Urban Cooperative Credit Society Ltd and other cooperative society cases, the tribunal directed the AO to allow the deduction claim, ruling in favor of the assessee. Case-Laws Income Tax Wed, 26 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456698