https://www.taxtmi.com/caselaws?id=757222 Interest income earned by a co-operative society on surplus-fund deposits with co-operative banks was treated as income from investments covered by Section 80P(2)(d) of the Income-tax Act, 1961. The Tribunal reasoned that the statutory allowance extends to income derived by a co-operative society from investments with other co-operative societies, and the interest in question was referable to such investments. The contrary view taken in assessment and first appeal was therefore unsustainable, and the disallowance was set aside in favour of the assessee. en-us Wed, 14 Aug 2024 00:00:00 +0530 Tue, 20 Aug 2024 08:26:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757222 Interest income earned by a co-operative society on surplus-fund deposits with co-operative banks was treated as income from investments covered by Section 80P(2)(d) of the Income-tax Act, 1961. The Tribunal reasoned that the statutory allowance extends to income derived by a co-operative society from investments with other co-operative societies, and the interest in question was referable to such investments. The contrary view taken in assessment and first appeal was therefore unsustainable, and the disallowance was set aside in favour of the assessee. Case-Laws Income Tax Wed, 14 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757222