https://www.taxtmi.com/caselaws?id=468557 Interest earned by a primary credit co-operative society from investments or deposits with co-operative banks was held eligible for deduction under section 80P(2)(d), as the Tribunal followed coordinate bench authority and the approved principle that the co-operative character of the recipient did not defeat the claim. The Tribunal also held that disallowance of employees' provident fund contribution under section 36(1)(va) increased the eligible business profits, so the assessee could claim further deduction under section 80P(2)(a)(i) on the enhanced profits in line with CBDT Circular No. 37/2016. The Revenue's challenge failed on both issues. en-us Tue, 06 Jan 2026 00:00:00 +0530 Tue, 12 May 2026 19:15:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468557 Interest earned by a primary credit co-operative society from investments or deposits with co-operative banks was held eligible for deduction under section 80P(2)(d), as the Tribunal followed coordinate bench authority and the approved principle that the co-operative character of the recipient did not defeat the claim. The Tribunal also held that disallowance of employees' provident fund contribution under section 36(1)(va) increased the eligible business profits, so the assessee could claim further deduction under section 80P(2)(a)(i) on the enhanced profits in line with CBDT Circular No. 37/2016. The Revenue's challenge failed on both issues. Case-Laws Income Tax Tue, 06 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468557