https://www.taxtmi.com/caselaws?id=466028 Interest earned by a cooperative society from deposits in permitted banks retains its character as cooperative society income and qualifies for deduction under the cooperative society tax provisions; Kerala High Court precedent treating such interest as eligible was applied, leading the authority to direct allowance of deduction on interest from co-operative and nationalized banks. The assessing officer's view that the society should be treated as a cooperative bank and thus ineligible was rejected, and the assessee's claim for deduction on the said interest income was allowed. en-us Wed, 18 Jun 2025 00:00:00 +0530 Tue, 20 Jan 2026 21:18:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466028 Interest earned by a cooperative society from deposits in permitted banks retains its character as cooperative society income and qualifies for deduction under the cooperative society tax provisions; Kerala High Court precedent treating such interest as eligible was applied, leading the authority to direct allowance of deduction on interest from co-operative and nationalized banks. The assessing officer's view that the society should be treated as a cooperative bank and thus ineligible was rejected, and the assessee's claim for deduction on the said interest income was allowed. Case-Laws Income Tax Wed, 18 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466028