https://www.taxtmi.com/caselaws?id=467083 Interest from savings bank accounts may qualify for deduction under the cooperative-society deduction provision where factual and legal nexus to society activities is established; interest on bank investments must be characterised as business income or income from other sources by reference to statutory attribution and factual connection to the credit business, and if taxed as other sources corresponding expenses are to be assessed and allowed under the expense-deduction provision; interest on investments made under the Multi State Co-operative Societies investment provisions may be attributable to the business of providing credit where statutory and factual criteria are satisfied; matters are remitted to the assessing officer for determination. en-us Tue, 17 Jan 2023 00:00:00 +0530 Thu, 05 Mar 2026 19:17:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467083 Interest from savings bank accounts may qualify for deduction under the cooperative-society deduction provision where factual and legal nexus to society activities is established; interest on bank investments must be characterised as business income or income from other sources by reference to statutory attribution and factual connection to the credit business, and if taxed as other sources corresponding expenses are to be assessed and allowed under the expense-deduction provision; interest on investments made under the Multi State Co-operative Societies investment provisions may be attributable to the business of providing credit where statutory and factual criteria are satisfied; matters are remitted to the assessing officer for determination. Case-Laws Income Tax Tue, 17 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467083