https://www.taxtmi.com/caselaws?id=785790 Assessees interest receipts from banks and cooperative societies were held eligible for deduction under the law governing cooperatives; where interest might not qualify under the primary cooperative deduction, the assessing officer had alternatively allowed deduction under the alternative cooperative provision, and the appellate authoritys classification of that interest as income from other sources was rejected. The reasoning emphasises that small bank interest receipts relate to the business of milk supply and can be treated as business income, so the taxpayer is entitled to the cooperative deduction under the primary provision and, where applicable, under the alternative provision as conceded by the assessing officer. en-us Wed, 28 Jan 2026 00:00:00 +0530 Sat, 31 Jan 2026 08:55:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785790 Assessees interest receipts from banks and cooperative societies were held eligible for deduction under the law governing cooperatives; where interest might not qualify under the primary cooperative deduction, the assessing officer had alternatively allowed deduction under the alternative cooperative provision, and the appellate authoritys classification of that interest as income from other sources was rejected. The reasoning emphasises that small bank interest receipts relate to the business of milk supply and can be treated as business income, so the taxpayer is entitled to the cooperative deduction under the primary provision and, where applicable, under the alternative provision as conceded by the assessing officer. Case-Laws Income Tax Wed, 28 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785790