https://www.taxtmi.com/caselaws?id=795709 Co-operative societies providing credit facilities to members may claim deduction for profits attributable to that eligible business where no sustainable basis exists to assess interest income otherwise. Unsupported disallowance of interest deductions and denial of the statutory residual-income deduction were unsustainable. Audit-fee provisions require verification of whether the liability had accrued rather than remained contingent. Leave-encashment claims require evidence of actual payment to employees before the return-filing due date. Eligibility for deduction and additions concerning member deposits and related interest require evidence-based examination of the society's activities, deposit genuineness, and member and Know Your Customer records; lack of members' PANs alone is insufficient where members do not possess them. en-us Thu, 23 Jul 2026 00:00:00 +0530 Sat, 25 Jul 2026 08:54:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795709 Co-operative societies providing credit facilities to members may claim deduction for profits attributable to that eligible business where no sustainable basis exists to assess interest income otherwise. Unsupported disallowance of interest deductions and denial of the statutory residual-income deduction were unsustainable. Audit-fee provisions require verification of whether the liability had accrued rather than remained contingent. Leave-encashment claims require evidence of actual payment to employees before the return-filing due date. Eligibility for deduction and additions concerning member deposits and related interest require evidence-based examination of the society's activities, deposit genuineness, and member and Know Your Customer records; lack of members' PANs alone is insufficient where members do not possess them. Case-Laws Income Tax Thu, 23 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795709