https://www.taxtmi.com/caselaws?id=61544 The Tribunal upheld the CIT(A)'s order, affirming that income sources like staff loans, interest on non-performing assets, security fee, and miscellaneous income are eligible for deduction under section 80P(2)(a)(i) for a co-operative society engaged in banking or providing credit facilities to its members. The judgment clarified the distinction between income sources directly related to providing credit facilities and incidental income, emphasizing that the latter also qualifies for exemption. The revenue's appeal was dismissed, confirming the eligibility of the diverse income streams for the deduction provision. en-us Thu, 15 Dec 2005 00:00:00 +0530 Thu, 13 Jan 2011 12:25:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61544 The Tribunal upheld the CIT(A)'s order, affirming that income sources like staff loans, interest on non-performing assets, security fee, and miscellaneous income are eligible for deduction under section 80P(2)(a)(i) for a co-operative society engaged in banking or providing credit facilities to its members. The judgment clarified the distinction between income sources directly related to providing credit facilities and incidental income, emphasizing that the latter also qualifies for exemption. The revenue's appeal was dismissed, confirming the eligibility of the diverse income streams for the deduction provision. Case-Laws Income Tax Thu, 15 Dec 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61544