Interest earned on investments made with sub-treasuries in the course of its business of banking and provided credit facilities to its members and therefore the assessee was entitled to deduction under section 80P(2)(a)(i) of the Act in respect of interest received on investments made with sub-treasuries. ( AY.2009 -10, 2012-13)
Perinthalmanna Service Co-Operative Bank Limited. 2018] 65 ITR 419 (Cochin ) (Trib)
S. 80P : Co-operative societies -Primary agricultural credit society – Interest earned on investments made with Sub-treasuries entitled to benefit of deduction [ S80P(2)(a)(i)]