https://www.taxtmi.com/highlights?id=80317 Interest income earned by a co-operative society formed and managed by the Government, in its regular course of operations, forms part of revenue attributable to operations as a cottage industry. The society is eligible for deduction u/s 80P(2)(a)(ii) of the Income Tax Act. The authorities erred in disallowing the deduction u/s 80P(2)(d), as the entire income, including interest earned on deposits, is attributable to the society's business and should be allowed as deduction u/s 80P(2)(a)(ii). The appeal of the assessee is allowed. en-us Sat, 10 Aug 2024 09:05:22 +0530 Sat, 10 Aug 2024 09:05:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=80317 Interest income earned by a co-operative society formed and managed by the Government, in its regular course of operations, forms part of revenue attributable to operations as a cottage industry. The society is eligible for deduction u/s 80P(2)(a)(ii) of the Income Tax Act. The authorities erred in disallowing the deduction u/s 80P(2)(d), as the entire income, including interest earned on deposits, is attributable to the society's business and should be allowed as deduction u/s 80P(2)(a)(ii). The appeal of the assessee is allowed. Highlights Income Tax Sat, 10 Aug 2024 09:05:22 +0530 https://www.taxtmi.com/highlights?id=80317