https://www.taxtmi.com/highlights?id=102873 Section 80P deduction for a milk co-operative is confined to profits from the specified milk-supply business. Interest on an income-tax refund derives from the statutory compensation for excess tax retention, not that business, and is ineligible. Interest from commercial-bank deposits likewise neither arises from the specified business nor qualifies as investment income from another co-operative society. Interest and dividends from investments with co-operative societies may qualify independently of the primary business, subject to entity-wise verification of each investee's co-operative status. Contributions to an approved gratuity fund remain subject to the ordinary annual contribution limit under Rule 103. Interest for delayed TDS deposit is not business expenditure, and a challenge solely to penalty initiation for under-reporting is premature. en-us Thu, 20 Aug 2026 08:14:28 +0530 Thu, 20 Aug 2026 08:14:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=102873 Section 80P deduction for a milk co-operative is confined to profits from the specified milk-supply business. Interest on an income-tax refund derives from the statutory compensation for excess tax retention, not that business, and is ineligible. Interest from commercial-bank deposits likewise neither arises from the specified business nor qualifies as investment income from another co-operative society. Interest and dividends from investments with co-operative societies may qualify independently of the primary business, subject to entity-wise verification of each investee's co-operative status. Contributions to an approved gratuity fund remain subject to the ordinary annual contribution limit under Rule 103. Interest for delayed TDS deposit is not business expenditure, and a challenge solely to penalty initiation for under-reporting is premature. Highlights Income Tax Thu, 20 Aug 2026 08:14:28 +0530 https://www.taxtmi.com/highlights?id=102873