https://www.taxtmi.com/caselaws?id=465550 The dominant issue was whether a co-operative credit society could claim deduction under s.80P(2)(a) on interest earned from deposits/investments with co-operative banks, or whether such interest was taxable as "income from other sources." Relying on HC authority holding that where interest income arises from investing surplus/funds generated from the business of providing credit facilities to members, it retains the character of business income eligible for s.80P(2)(a) deduction, the Tribunal rejected the AO's recharacterisation. The assessee's claim for deduction on such interest was upheld and the appeal was allowed. en-us Mon, 23 Jun 2025 00:00:00 +0530 Tue, 30 Dec 2025 19:04:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465550 The dominant issue was whether a co-operative credit society could claim deduction under s.80P(2)(a) on interest earned from deposits/investments with co-operative banks, or whether such interest was taxable as "income from other sources." Relying on HC authority holding that where interest income arises from investing surplus/funds generated from the business of providing credit facilities to members, it retains the character of business income eligible for s.80P(2)(a) deduction, the Tribunal rejected the AO's recharacterisation. The assessee's claim for deduction on such interest was upheld and the appeal was allowed. Case-Laws Income Tax Mon, 23 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465550