https://www.taxtmi.com/caselaws?id=790835 A primary credit co-operative society's entitlement to deduction under section 80P was examined for income from transactions with nominal members and for interest on investments. The Tribunal treated nominal members as members under the applicable Maharashtra co-operative law, so income from such transactions could not be denied deduction merely by labelling them as non-member dealings. It also applied co-ordinate bench rulings to recognise that interest earned from investments with co-operative banks, and in appropriate cases from other banks where attributable to the society's credit activity, may qualify for deduction under section 80P(2)(d) or section 80P(2)(a)(i), subject to statutory conditions. en-us Fri, 17 Apr 2026 00:00:00 +0530 Fri, 01 May 2026 10:14:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790835 A primary credit co-operative society's entitlement to deduction under section 80P was examined for income from transactions with nominal members and for interest on investments. The Tribunal treated nominal members as members under the applicable Maharashtra co-operative law, so income from such transactions could not be denied deduction merely by labelling them as non-member dealings. It also applied co-ordinate bench rulings to recognise that interest earned from investments with co-operative banks, and in appropriate cases from other banks where attributable to the society's credit activity, may qualify for deduction under section 80P(2)(d) or section 80P(2)(a)(i), subject to statutory conditions. Case-Laws Income Tax Fri, 17 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790835