https://www.taxtmi.com/caselaws?id=792652 Interest earned by a co-operative society on deposits placed with nationalised banks was treated as income attributable to its business for deduction under section 80P(2) of the Income-tax Act, 1961. Following earlier coordinate bench decisions, the Tribunal accepted that deployment of surplus funds in banking instruments does not by itself remove the income from the scope of the deduction. The result was that the deduction was directed to be allowed on the interest income in question. en-us Wed, 06 May 2026 00:00:00 +0530 Mon, 01 Jun 2026 08:25:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792652 Interest earned by a co-operative society on deposits placed with nationalised banks was treated as income attributable to its business for deduction under section 80P(2) of the Income-tax Act, 1961. Following earlier coordinate bench decisions, the Tribunal accepted that deployment of surplus funds in banking instruments does not by itself remove the income from the scope of the deduction. The result was that the deduction was directed to be allowed on the interest income in question. Case-Laws Income Tax Wed, 06 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792652