Court held that the primary business of assessee-society was accepting deposits and providing benefits to its members. The income received by the society was, therefore, from the interest it earned on the amount lent to the members. The society, likewise, was paying interest on the deposits it had accepted. Five per cent. of the expenditure booked against interest paid to depositors was disallowed and once the disallowed portion was accepted by all the authorities, it formed part of the interest earned by the society on the amount lent by the society to its members, in other words, income earned from business carried on by the society. The  Society was entitled to deduction of such income under section 80P(2)(a)(i). Followed  Mavilayi Service Co-Operative Bank Ltd. v. CIT (2021)431 ITR 1 (SC)  Referred Circular Dated 2-11-2016 (2016) 388 ITR 62 (St). (AY. 2012-13)