https://www.taxtmi.com/caselaws?id=784173 The dominant issue was whether interest earned by a member-credit co-operative society from deposits/investments with other co-operative societies constituted business income eligible for deduction under s. 80P(2)(a)(i), or "income from other sources" disentitling the claim. Applying HC rulings holding that interest attributable to the society's business of providing credit facilities to members retains the character of business income, the Tribunal rejected the AO's view that such interest must invariably be assessed under "other sources." Consequently, the AO was directed to allow deduction under s. 80P(2)(a)(i) on the interest earned from co-operative societies, and the appeal was allowed. en-us Mon, 15 Dec 2025 00:00:00 +0530 Tue, 30 Dec 2025 09:29:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784173 The dominant issue was whether interest earned by a member-credit co-operative society from deposits/investments with other co-operative societies constituted business income eligible for deduction under s. 80P(2)(a)(i), or "income from other sources" disentitling the claim. Applying HC rulings holding that interest attributable to the society's business of providing credit facilities to members retains the character of business income, the Tribunal rejected the AO's view that such interest must invariably be assessed under "other sources." Consequently, the AO was directed to allow deduction under s. 80P(2)(a)(i) on the interest earned from co-operative societies, and the appeal was allowed. Case-Laws Income Tax Mon, 15 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784173