https://www.taxtmi.com/caselaws?id=776584 HC allowed major part of the appeal: interest income on surplus funds invested in banks/Govt securities was held "attributable to" the society's cooperative activities and deductible under s.80P(2)(a)(i); lower authorities erred in denying that deduction. However, deduction for interest on house-building loans to staff was disallowed and that question resolved against the appellant. Interest earned on personal loans advanced to individual members (Class D) was held eligible for deduction under s.80P, and that issue was decided in favour of the appellant. en-us Wed, 06 Aug 2025 00:00:00 +0530 Mon, 27 Apr 2026 16:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776584 HC allowed major part of the appeal: interest income on surplus funds invested in banks/Govt securities was held "attributable to" the society's cooperative activities and deductible under s.80P(2)(a)(i); lower authorities erred in denying that deduction. However, deduction for interest on house-building loans to staff was disallowed and that question resolved against the appellant. Interest earned on personal loans advanced to individual members (Class D) was held eligible for deduction under s.80P, and that issue was decided in favour of the appellant. Case-Laws Income Tax Wed, 06 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776584