Co-operative deduction eligibility excludes refund and commercial-bank interest, while qualifying co-operative investments require entity-wise verification.

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....Section 80P deduction for a milk co-operative is confined to profits from the specified milk-supply business. Interest on an income-tax refund derives from the statutory compensation for excess tax retention, not that business, and is ineligible. Interest from commercial-bank deposits likewise neither arises from the specified business nor qualifies as investment income from another co-operative society. Interest and dividends from investments with co-operative societies may qualify independently of the primary business, subject to entity-wise verification of each investee's co-operative status. Contributions to an approved gratuity fund remain subject to the ordinary annual contribution limit under Rule 103. Interest for delayed TDS deposit is not business expenditure, and a challenge solely to penalty initiation for under-reporting is premature.....