https://www.taxtmi.com/caselaws?id=801396 Interest earned by a co-operative credit society on deposits of business funds with co-operative or other banks qualifies for deduction under Section 80P(2)(a)(i) where those deposits are connected with its regulated lending operations. Funds generated through the business of providing credit facilities to members retain their business-income character when deposited with banks. The principle concerning retention and investment of members' sale proceeds does not apply to interest on the society's own business funds, so the related addition is deleted. en-us Thu, 08 Oct 2026 00:00:00 +0530 Wed, 21 Oct 2026 08:37:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=801396 Interest earned by a co-operative credit society on deposits of business funds with co-operative or other banks qualifies for deduction under Section 80P(2)(a)(i) where those deposits are connected with its regulated lending operations. Funds generated through the business of providing credit facilities to members retain their business-income character when deposited with banks. The principle concerning retention and investment of members' sale proceeds does not apply to interest on the society's own business funds, so the related addition is deleted. Case-Laws Income Tax Thu, 08 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=801396