https://www.taxtmi.com/caselaws?id=761437 Interest income earned by a co-operative credit society from fixed deposits with co-operative banks was held to fall within section 80P(2)(d), because that provision allows deduction for income derived by a co-operative society from investments with another co-operative society. The distinction from section 80P(2)(a)(i) was accepted, and the reasoning that interest on surplus or idle funds may fail under that clause did not control the result here. The Tribunal therefore treated the interest as eligible for deduction under section 80P(2)(d), and the disallowance was unsustainable. en-us Thu, 29 Aug 2024 00:00:00 +0530 Sat, 09 Nov 2024 10:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761437 Interest income earned by a co-operative credit society from fixed deposits with co-operative banks was held to fall within section 80P(2)(d), because that provision allows deduction for income derived by a co-operative society from investments with another co-operative society. The distinction from section 80P(2)(a)(i) was accepted, and the reasoning that interest on surplus or idle funds may fail under that clause did not control the result here. The Tribunal therefore treated the interest as eligible for deduction under section 80P(2)(d), and the disallowance was unsustainable. Case-Laws Income Tax Thu, 29 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761437