https://www.taxtmi.com/caselaws?id=800740 Co-operative credit societies that are not themselves co-operative banks may claim deduction under section 80P(2)(d) for interest from investments and deposits with co-operative banks, treated as other registered co-operative societies. The exclusion in section 80P(4) applies to a claimant that is a co-operative bank and does not bar such a society because the payer is a co-operative bank. Interest on nationalised-bank deposits qualifies as business income under section 80P(2)(a)(i) where deposits support liquidity requirements, members' fund protection, multi-location operations, and the conduct of credit facilities, rather than representing surplus funds parked outside the business. en-us Wed, 07 Oct 2026 00:00:00 +0530 Sat, 10 Oct 2026 08:32:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800740 Co-operative credit societies that are not themselves co-operative banks may claim deduction under section 80P(2)(d) for interest from investments and deposits with co-operative banks, treated as other registered co-operative societies. The exclusion in section 80P(4) applies to a claimant that is a co-operative bank and does not bar such a society because the payer is a co-operative bank. Interest on nationalised-bank deposits qualifies as business income under section 80P(2)(a)(i) where deposits support liquidity requirements, members' fund protection, multi-location operations, and the conduct of credit facilities, rather than representing surplus funds parked outside the business. Case-Laws Income Tax Wed, 07 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800740