https://www.taxtmi.com/caselaws?id=791649 Interest earned by a credit co-operative society from deposits with nationalised banks was treated as business income where the funds were operational surplus kept for liquidity and business requirements. Applying earlier Tribunal decisions, the income retained its business character and qualified for deduction under section 80P(2)(a)(i) of the Income-tax Act, 1961. No contrary binding precedent was shown to disturb that settled position, so the society was held entitled to the deduction on the bank interest. en-us Tue, 12 May 2026 00:00:00 +0530 Thu, 14 May 2026 09:01:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791649 Interest earned by a credit co-operative society from deposits with nationalised banks was treated as business income where the funds were operational surplus kept for liquidity and business requirements. Applying earlier Tribunal decisions, the income retained its business character and qualified for deduction under section 80P(2)(a)(i) of the Income-tax Act, 1961. No contrary binding precedent was shown to disturb that settled position, so the society was held entitled to the deduction on the bank interest. Case-Laws Income Tax Tue, 12 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791649