https://www.taxtmi.com/caselaws?id=794611 Interest income earned by a co-operative credit society on deposits with SBI and nationalised banks may qualify for deduction under section 80P(2)(a)(i) where the deposits comprise funds generated from providing credit facilities to members. Applying the expression "attributable to", interest on permitted bank deposits of business funds retains the character of profits and gains attributable to the eligible activity. The deduction is restricted to the amount originally claimed in the returns. en-us Tue, 30 Jun 2026 00:00:00 +0530 Fri, 24 Jul 2026 14:15:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794611 Interest income earned by a co-operative credit society on deposits with SBI and nationalised banks may qualify for deduction under section 80P(2)(a)(i) where the deposits comprise funds generated from providing credit facilities to members. Applying the expression "attributable to", interest on permitted bank deposits of business funds retains the character of profits and gains attributable to the eligible activity. The deduction is restricted to the amount originally claimed in the returns. Case-Laws Income Tax Tue, 30 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794611