https://www.taxtmi.com/caselaws?id=796478 Interest earned on compulsory statutory deposits with co-operative banks is attributable to a co-operative society's business of providing credit facilities to its members. Where deposits are mandated by the Karnataka Souharda Sahakari Act, 1997, the interest constitutes business income eligible for deduction under section 80P(2)(a)(i) of the Income-tax Act, 1961. Treating such interest as income from other sources is inconsistent with the principles applicable to compulsory statutory investments. en-us Mon, 05 Jan 2026 00:00:00 +0530 Thu, 06 Aug 2026 09:11:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796478 Interest earned on compulsory statutory deposits with co-operative banks is attributable to a co-operative society's business of providing credit facilities to its members. Where deposits are mandated by the Karnataka Souharda Sahakari Act, 1997, the interest constitutes business income eligible for deduction under section 80P(2)(a)(i) of the Income-tax Act, 1961. Treating such interest as income from other sources is inconsistent with the principles applicable to compulsory statutory investments. Case-Laws Income Tax Mon, 05 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796478