https://www.taxtmi.com/caselaws?id=789494 Deduction under section 80P(2)(a)(i) is not denied merely because a co-operative society has nominal or associate members, where the governing state law permits such membership; the same applies to a housing co-operative society advancing loans to members. Interest on deposits kept with an apex bank under statutory compulsion and on bank balances maintained as part of banking operations is attributable to the society's business and may qualify under section 80P(2)(a)(i). Interest from deposits with a co-operative bank qualifies under section 80P(2)(d). Fixed-deposit interest from a nationalised bank is assessable as income from other sources, with corresponding deductions under section 57. en-us Tue, 07 Apr 2026 00:00:00 +0530 Thu, 09 Apr 2026 08:09:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789494 Deduction under section 80P(2)(a)(i) is not denied merely because a co-operative society has nominal or associate members, where the governing state law permits such membership; the same applies to a housing co-operative society advancing loans to members. Interest on deposits kept with an apex bank under statutory compulsion and on bank balances maintained as part of banking operations is attributable to the society's business and may qualify under section 80P(2)(a)(i). Interest from deposits with a co-operative bank qualifies under section 80P(2)(d). Fixed-deposit interest from a nationalised bank is assessable as income from other sources, with corresponding deductions under section 57. Case-Laws Income Tax Tue, 07 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789494