https://www.taxtmi.com/caselaws?id=789198 Interest earned by a members' credit co-operative society on bank deposits was treated as attributable to the business of providing credit facilities to members because the funds were not immediately required for lending. On those facts, the income qualified for deduction under section 80P(2)(a)(i) of the Income-tax Act, and the disallowance was reversed. The ruling in Tumkur Merchants Souharda Credit Co-operative Ltd. was applied on identical facts, while the later decision concerning interest from co-operative banks was distinguished as arising under section 80P(2)(d) and on different facts. en-us Thu, 02 Apr 2026 00:00:00 +0530 Sat, 04 Apr 2026 08:53:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789198 Interest earned by a members' credit co-operative society on bank deposits was treated as attributable to the business of providing credit facilities to members because the funds were not immediately required for lending. On those facts, the income qualified for deduction under section 80P(2)(a)(i) of the Income-tax Act, and the disallowance was reversed. The ruling in Tumkur Merchants Souharda Credit Co-operative Ltd. was applied on identical facts, while the later decision concerning interest from co-operative banks was distinguished as arising under section 80P(2)(d) and on different facts. Case-Laws Income Tax Thu, 02 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789198