https://www.taxtmi.com/caselaws?id=465883 Dispute concerns unexplained cash credits during the demonetisation period and claim of deduction for interest received by a cooperative society. The tribunal accepted that when the assessee explains the nature and source of cash deposits and records them in books, section 68 is not attracted, and thus the additions on account of deposited demonetised currency were deleted. On deduction, the tribunal agreed that interest earned from a cooperative bank falls within the statutory deduction available to cooperative societies, recognising precedents extending coverage to cooperative banks, and upheld the appellate authoritys allowance of relief on interest income. en-us Mon, 18 Nov 2024 00:00:00 +0530 Wed, 14 Jan 2026 08:56:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465883 Dispute concerns unexplained cash credits during the demonetisation period and claim of deduction for interest received by a cooperative society. The tribunal accepted that when the assessee explains the nature and source of cash deposits and records them in books, section 68 is not attracted, and thus the additions on account of deposited demonetised currency were deleted. On deduction, the tribunal agreed that interest earned from a cooperative bank falls within the statutory deduction available to cooperative societies, recognising precedents extending coverage to cooperative banks, and upheld the appellate authoritys allowance of relief on interest income. Case-Laws Income Tax Mon, 18 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465883