https://www.taxtmi.com/caselaws?id=793931 Interest earned by a co-operative credit society on temporary bank deposits of funds not immediately required for lending was treated as having a sufficient business nexus with its credit-facility activity. The Tribunal followed the jurisdictional High Court's view that, where the society is engaged solely in providing credit facilities to members and parks funds only temporarily as part of business operations, the resulting interest is attributable to the principal business and does not become separate investment income. The interest income was therefore held eligible for deduction under section 80P(2)(a)(i). en-us Wed, 15 Apr 2026 00:00:00 +0530 Fri, 26 Jun 2026 07:07:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793931 Interest earned by a co-operative credit society on temporary bank deposits of funds not immediately required for lending was treated as having a sufficient business nexus with its credit-facility activity. The Tribunal followed the jurisdictional High Court's view that, where the society is engaged solely in providing credit facilities to members and parks funds only temporarily as part of business operations, the resulting interest is attributable to the principal business and does not become separate investment income. The interest income was therefore held eligible for deduction under section 80P(2)(a)(i). Case-Laws Income Tax Wed, 15 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793931