https://www.taxtmi.com/caselaws?id=470497 Interest from deposits with co-operative banks is assessable as income from other sources and is not deductible under Section 80P(2)(d), despite the bank also being a co-operative society. Deductibility of interest earned on deposits with co-operative or non-co-operative banks under Section 80P(2)(a)(i) depends on whether the deposits comprise the assessee's own surplus funds temporarily parked pending business use rather than liability funds. That claim requires factual verification of the source and character of the funds and is remitted for fresh adjudication. en-us Fri, 07 Dec 2018 00:00:00 +0530 Wed, 29 Jul 2026 16:47:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470497 Interest from deposits with co-operative banks is assessable as income from other sources and is not deductible under Section 80P(2)(d), despite the bank also being a co-operative society. Deductibility of interest earned on deposits with co-operative or non-co-operative banks under Section 80P(2)(a)(i) depends on whether the deposits comprise the assessee's own surplus funds temporarily parked pending business use rather than liability funds. That claim requires factual verification of the source and character of the funds and is remitted for fresh adjudication. Case-Laws Income Tax Fri, 07 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470497