https://www.taxtmi.com/caselaws?id=775148 Incidental e-stamping commission earned from non-members did not, by itself, destroy mutuality or disentitle a co-operative society from deduction where its predominant activity remained providing credit facilities to members and accepting member deposits; the denial of the entire deduction on that basis was unjustified. Interest earned on deposits maintained with a co-operative bank pursuant to statutory reserve requirements under the Karnataka State Co-operative Societies Act, 1959 had a direct business nexus and constituted deductible business income under section 80P(2)(a)(i); the relief was to be granted subject to verification of the statutory deposit working by the Assessing Officer. en-us Thu, 29 May 2025 00:00:00 +0530 Mon, 21 Jul 2025 08:43:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775148 Incidental e-stamping commission earned from non-members did not, by itself, destroy mutuality or disentitle a co-operative society from deduction where its predominant activity remained providing credit facilities to members and accepting member deposits; the denial of the entire deduction on that basis was unjustified. Interest earned on deposits maintained with a co-operative bank pursuant to statutory reserve requirements under the Karnataka State Co-operative Societies Act, 1959 had a direct business nexus and constituted deductible business income under section 80P(2)(a)(i); the relief was to be granted subject to verification of the statutory deposit working by the Assessing Officer. Case-Laws Income Tax Thu, 29 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775148