Interest Income from Co-operative Bank qualifies as Business Income: ITAT allows Co-operative Society to claim Deduction u/s 80P

Non-Fund Based Facilities Cannot Be Refused by Lenders on Availability of Disbursement Clause in Resolution Plan: NCLAT Dismisses SBI’s Appeal The National Company Law Appellate Tribunal (NCLAT) dismissed an appeal by State Bank of India (SBI), ruling that lenders cannot refuse non-fund-based facilities based on the disbursement clause of a resolution plan. The case involved a resolution plan approved under the Insolvency and Bankruptcy Code (IBC), where the lender sought to deny such facilities. NCLAT's decision reinforced that lenders must respect the terms of the approved resolution plan and cannot impose conditions that contradict its provisions. This ruling underscores the importance of upholding the integrity of resolution plans during insolvency proceedings.