https://www.taxtmi.com/caselaws?id=471899 Interest on fixed deposits held by a co-operative credit society with scheduled or nationalised banks qualifies for deduction under section 80P(2)(a)(i) where the deposits are connected with its business of providing credit facilities to members. Such interest is treated as business income attributable to those operations. Interest derived from surplus funds not required for business purposes is distinguishable and does not fall within that stated rationale. en-us Wed, 16 May 2018 00:00:00 +0530 Tue, 22 Sep 2026 17:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471899 Interest on fixed deposits held by a co-operative credit society with scheduled or nationalised banks qualifies for deduction under section 80P(2)(a)(i) where the deposits are connected with its business of providing credit facilities to members. Such interest is treated as business income attributable to those operations. Interest derived from surplus funds not required for business purposes is distinguishable and does not fall within that stated rationale. Case-Laws Income Tax Wed, 16 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471899