https://www.taxtmi.com/caselaws?id=795688 Interest received from a co-operative bank was treated as deductible by applying the jurisdictional High Court position. Cash deposited in the co-operative society's bank account was explained as loan repayment receipts and therefore could not be added as unexplained income. Other interest income, excluding the separately considered co-operative bank interest, was treated as income qualifying for deduction under section 80P(2)(a) as attributable to the society's banking business. Accordingly, the cash-deposit addition and disallowance of the relevant interest income did not survive; reassessment-related technical objections became academic. en-us Tue, 16 Jun 2026 00:00:00 +0530 Sat, 25 Jul 2026 08:54:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795688 Interest received from a co-operative bank was treated as deductible by applying the jurisdictional High Court position. Cash deposited in the co-operative society's bank account was explained as loan repayment receipts and therefore could not be added as unexplained income. Other interest income, excluding the separately considered co-operative bank interest, was treated as income qualifying for deduction under section 80P(2)(a) as attributable to the society's banking business. Accordingly, the cash-deposit addition and disallowance of the relevant interest income did not survive; reassessment-related technical objections became academic. Case-Laws Income Tax Tue, 16 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795688