https://www.taxtmi.com/caselaws?id=772371 ITAT Cochin held that interest income from savings account opened for member facilities was not eligible for deduction under section 80P(2)(a)(i) as it was not business income. However, miscellaneous income collected from members while granting loans could qualify for deduction if proven to be business income. The tribunal remitted matters regarding printing charges, courier service charges, and ambulance income to AO for fresh consideration, directing proper verification of claims and allowance of expenses against gross income. The appeal was partly allowed. en-us Tue, 27 May 2025 00:00:00 +0530 Sat, 07 Jun 2025 08:32:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772371 ITAT Cochin held that interest income from savings account opened for member facilities was not eligible for deduction under section 80P(2)(a)(i) as it was not business income. However, miscellaneous income collected from members while granting loans could qualify for deduction if proven to be business income. The tribunal remitted matters regarding printing charges, courier service charges, and ambulance income to AO for fresh consideration, directing proper verification of claims and allowance of expenses against gross income. The appeal was partly allowed. Case-Laws Income Tax Tue, 27 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772371