https://www.taxtmi.com/caselaws?id=795440 Interest on deposits with a district central co-operative bank is not deductible under section 80P(2)(d). Where the interest is assessed as income from other sources, the related cost of funds must be allowed, with a corresponding adjustment to any deduction under section 80P(2)(a)(i). Eligibility under section 80P(2)(a)(i) depends on whether deposits constitute statutory reserve funds maintained under Rule 28 and whether the interest is attributable to specified business activities. The matter requires verification of the deposits' source and statutory character before applying the relevant deduction provision and cost-of-funds adjustment. en-us Mon, 20 Jul 2026 00:00:00 +0530 Wed, 22 Jul 2026 08:48:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795440 Interest on deposits with a district central co-operative bank is not deductible under section 80P(2)(d). Where the interest is assessed as income from other sources, the related cost of funds must be allowed, with a corresponding adjustment to any deduction under section 80P(2)(a)(i). Eligibility under section 80P(2)(a)(i) depends on whether deposits constitute statutory reserve funds maintained under Rule 28 and whether the interest is attributable to specified business activities. The matter requires verification of the deposits' source and statutory character before applying the relevant deduction provision and cost-of-funds adjustment. Case-Laws Income Tax Mon, 20 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795440