Interest earned by co-operative society on short term deposits with banks eligible for Sec. 80P deduction

INCOME TAX : Where assessee co-operative society, engaged in providing credit facility to its members, earned interest income on deposits made with co-operative banks, since these were short-term deposits of money not required for time being, such interest earned on these deposits would fall within ambit of "profits and gains of business attributable to" providing credit facilities by assessee to its members and assessee was eligible to claim deduction on same under section 80P(2)(a)(i)

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