https://www.taxtmi.com/caselaws?id=794016 A co-operative credit society that substantiated cash deposits with member-wise particulars and supporting material discharged its onus under section 68; in the absence of contrary verification or evidence from the Revenue, the addition could not stand and was deleted. Interest earned on surplus funds deposited with a bank was treated as attributable to the society's credit business, so it qualified for deduction under section 80P(2)(a)(i). The first appellate relief was sustained on both issues, and the Revenue's challenge failed. en-us Wed, 24 Jun 2026 00:00:00 +0530 Sat, 27 Jun 2026 08:33:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794016 A co-operative credit society that substantiated cash deposits with member-wise particulars and supporting material discharged its onus under section 68; in the absence of contrary verification or evidence from the Revenue, the addition could not stand and was deleted. Interest earned on surplus funds deposited with a bank was treated as attributable to the society's credit business, so it qualified for deduction under section 80P(2)(a)(i). The first appellate relief was sustained on both issues, and the Revenue's challenge failed. Case-Laws Income Tax Wed, 24 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794016