https://www.taxtmi.com/caselaws?id=799771 Interest earned by a co-operative credit society on funds deposited with a co-operative bank qualifies as business income where the funds are connected with its business of providing credit facilities to members. Such income remains eligible for deduction under Section 80P(2)(a)(i). Section 80P(4) does not deny the deduction merely because the deposits are maintained with a co-operative bank. The interest cannot be assessed under income from other sources. en-us Wed, 16 Sep 2026 00:00:00 +0530 Sat, 26 Sep 2026 08:31:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799771 Interest earned by a co-operative credit society on funds deposited with a co-operative bank qualifies as business income where the funds are connected with its business of providing credit facilities to members. Such income remains eligible for deduction under Section 80P(2)(a)(i). Section 80P(4) does not deny the deduction merely because the deposits are maintained with a co-operative bank. The interest cannot be assessed under income from other sources. Case-Laws Income Tax Wed, 16 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799771