https://www.taxtmi.com/caselaws?id=467852 Interest from deposits maintained under statutory co-operative requirements was treated as attributable to the society's business and eligible for deduction under section 80P(2)(a)(i), subject to verification of the statutory deposit quantum. Interest from investments with other co-operative societies was held deductible under section 80P(2)(d). Interest on surplus funds placed beyond the statutory requirement was not treated as business income and had to be re-examined separately, including the availability of related expenditure under sections 56 and 57 if assessed as income from other sources. The matters were remitted for segregation of statutory deposits, surplus investments, and corresponding deductions. en-us Mon, 30 Jun 2025 00:00:00 +0530 Mon, 06 Apr 2026 10:45:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467852 Interest from deposits maintained under statutory co-operative requirements was treated as attributable to the society's business and eligible for deduction under section 80P(2)(a)(i), subject to verification of the statutory deposit quantum. Interest from investments with other co-operative societies was held deductible under section 80P(2)(d). Interest on surplus funds placed beyond the statutory requirement was not treated as business income and had to be re-examined separately, including the availability of related expenditure under sections 56 and 57 if assessed as income from other sources. The matters were remitted for segregation of statutory deposits, surplus investments, and corresponding deductions. Case-Laws Income Tax Mon, 30 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467852