https://www.taxtmi.com/caselaws?id=472068 Interest income from surplus funds invested with co-operative banks and societies qualifies for deduction under section 80P(2)(d) and is also eligible under section 80P(2)(a)(i), rather than being treated as income from other sources. Where the deduction applies, a business-expenditure disallowance increases the income qualifying for the Chapter VI-A deduction and should therefore be deleted, consistent with CBDT Circular No. 37 of 2016. Eligible income requires recomputation after granting the deduction and removing the expenditure disallowance. en-us Thu, 05 Jun 2025 00:00:00 +0530 Tue, 29 Sep 2026 10:32:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472068 Interest income from surplus funds invested with co-operative banks and societies qualifies for deduction under section 80P(2)(d) and is also eligible under section 80P(2)(a)(i), rather than being treated as income from other sources. Where the deduction applies, a business-expenditure disallowance increases the income qualifying for the Chapter VI-A deduction and should therefore be deleted, consistent with CBDT Circular No. 37 of 2016. Eligible income requires recomputation after granting the deduction and removing the expenditure disallowance. Case-Laws Income Tax Thu, 05 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472068