https://www.taxtmi.com/caselaws?id=772866 The ITAT Cochin held that interest income from District Co-operative Bank does not qualify for deduction under Section 80P(2)(a)(i), with permissible deductions limited to Co-operative Societies/Banks registered under Kerala Co-operative Societies Act. However, following Kerala HC precedent in Sahyadri Co-operative Credit Society Ltd., interest income from Treasury and Scheduled Banks retains its character as profits/gains attributable to main business when deposits are made as mandated under Multi-State Co-operative Societies Act Sections 63-64. en-us Thu, 12 Jun 2025 00:00:00 +0530 Sat, 14 Jun 2025 06:47:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772866 The ITAT Cochin held that interest income from District Co-operative Bank does not qualify for deduction under Section 80P(2)(a)(i), with permissible deductions limited to Co-operative Societies/Banks registered under Kerala Co-operative Societies Act. However, following Kerala HC precedent in Sahyadri Co-operative Credit Society Ltd., interest income from Treasury and Scheduled Banks retains its character as profits/gains attributable to main business when deposits are made as mandated under Multi-State Co-operative Societies Act Sections 63-64. Case-Laws Income Tax Thu, 12 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772866