Disallowed portion of interest exp. forms part of income; eligible for sec. 80P deduction: HC

INCOME TAX : Where revenue disallowed expenditure claimed by assessee-credit co-operative society towards interest paid on deposits received by it from its members, since such disallowed amount became income earned from business carried on by assessee society, same was to be allowed as deduction under section 80P(2)(i)(a)

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