https://www.taxtmi.com/caselaws?id=461701 SC/Tribunal ruled that a cooperative society's interest income from bank fixed deposits, derived from surplus business funds, qualifies for tax exemption under section 80P(2)(a)(i) of the Income Tax Act. The court rejected arguments that such income should be classified as non-business income, holding that the deposits are integral to the society's credit facility operations and thus eligible for tax exemption. en-us Mon, 07 Nov 2022 00:00:00 +0530 Tue, 22 Apr 2025 19:03:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461701 SC/Tribunal ruled that a cooperative society's interest income from bank fixed deposits, derived from surplus business funds, qualifies for tax exemption under section 80P(2)(a)(i) of the Income Tax Act. The court rejected arguments that such income should be classified as non-business income, holding that the deposits are integral to the society's credit facility operations and thus eligible for tax exemption. Case-Laws Income Tax Mon, 07 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461701