https://www.taxtmi.com/caselaws?id=469846 Cash deposited during demonetisation does not constitute unexplained cash credit in a cooperative society's hands where it is established as belonging to its members and that factual position is accepted. Interest earned on bank deposits from funds connected with cooperative activities may retain its character as business income attributable to those activities and qualify for deduction under section 80P(2)(a)(i). The same treatment applies in a subsequent assessment year where the disallowance arises on identical facts. These principles support deletion of the cash-credit addition and allowance of the cooperative deduction for qualifying interest income. en-us Thu, 08 Jan 2026 00:00:00 +0530 Mon, 06 Jul 2026 20:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469846 Cash deposited during demonetisation does not constitute unexplained cash credit in a cooperative society's hands where it is established as belonging to its members and that factual position is accepted. Interest earned on bank deposits from funds connected with cooperative activities may retain its character as business income attributable to those activities and qualify for deduction under section 80P(2)(a)(i). The same treatment applies in a subsequent assessment year where the disallowance arises on identical facts. These principles support deletion of the cash-credit addition and allowance of the cooperative deduction for qualifying interest income. Case-Laws Income Tax Thu, 08 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469846