https://www.taxtmi.com/caselaws?id=788024 Interest earned on mandatory bank deposits by a cooperative credit society was held to be incidental to and part of its banking business because such deposits are statutorily required, funded from its lending operations and serve regulatory and liquidity functions; applying coordinate-bench precedent, the interest income is attributable to the society's business of providing credit to members and therefore constitutes business income. The outcome is that the interest amount qualifies for deduction under the statutory deduction provision for cooperative societies and the revenue's appeal was dismissed. en-us Fri, 13 Feb 2026 00:00:00 +0530 Mon, 16 Mar 2026 08:42:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788024 Interest earned on mandatory bank deposits by a cooperative credit society was held to be incidental to and part of its banking business because such deposits are statutorily required, funded from its lending operations and serve regulatory and liquidity functions; applying coordinate-bench precedent, the interest income is attributable to the society's business of providing credit to members and therefore constitutes business income. The outcome is that the interest amount qualifies for deduction under the statutory deduction provision for cooperative societies and the revenue's appeal was dismissed. Case-Laws Income Tax Fri, 13 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788024