https://www.taxtmi.com/highlights?id=92442 ITAT remitted the matter to the file of the AO for determination and computation of business income, income from other sources and entitlement to deduction under s.80P. The Tribunal held: interest derived exclusively from credit facilities to members constitutes operating profit of the co-operative society and is deductible under s.80P(2)(a)(i); interest on statutory deposits/maintenance of fluid resources is attributable to business and deductible under s.80P(2)(a)(i) irrespective of bank category; interest on investments in entities qualifying as a "banking company" (per statutory definition and licencing) in excess of statutory limits is income from other sources and not eligible for s.80P(2)(d), though fund-cost and related administrati..... en-us Fri, 12 Sep 2025 08:45:32 +0530 Fri, 12 Sep 2025 08:45:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=92442 ITAT remitted the matter to the file of the AO for determination and computation of business income, income from other sources and entitlement to deduction under s.80P. The Tribunal held: interest derived exclusively from credit facilities to members constitutes operating profit of the co-operative society and is deductible under s.80P(2)(a)(i); interest on statutory deposits/maintenance of fluid resources is attributable to business and deductible under s.80P(2)(a)(i) irrespective of bank category; interest on investments in entities qualifying as a "banking company" (per statutory definition and licencing) in excess of statutory limits is income from other sources and not eligible for s.80P(2)(d), though fund-cost and related administrati..... Highlights Income Tax Fri, 12 Sep 2025 08:45:32 +0530 https://www.taxtmi.com/highlights?id=92442