https://www.taxtmi.com/caselaws?id=468424 Interest earned by a co-operative credit society on bank deposits made out of operational funds was treated as business income and held eligible for deduction under section 80P(2)(a)(i). The Tribunal followed its earlier coordinate bench view and applied the principle of consistency, distinguishing the Supreme Court decision relied on by the Revenue because the deposits arose from business-related funds of the society and not from unrelated surplus activity. The disallowance was therefore set aside in favour of the assessee. en-us Mon, 03 Feb 2025 00:00:00 +0530 Tue, 05 May 2026 18:36:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468424 Interest earned by a co-operative credit society on bank deposits made out of operational funds was treated as business income and held eligible for deduction under section 80P(2)(a)(i). The Tribunal followed its earlier coordinate bench view and applied the principle of consistency, distinguishing the Supreme Court decision relied on by the Revenue because the deposits arose from business-related funds of the society and not from unrelated surplus activity. The disallowance was therefore set aside in favour of the assessee. Case-Laws Income Tax Mon, 03 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468424