https://www.taxtmi.com/caselaws?id=277469 ITAT Mumbai allowed the assessee's claim for exemption under section 80P(2)(d) regarding interest earned from a cooperative bank. The CIT(A) had denied the claim, relying on precedents that were distinguished by the tribunal. The tribunal found the CIT(A)'s reliance on State Bank of India Employees Co-op Credit Supply Society Ltd case untenable, as it involved interest from State Bank of India, which is not a cooperative society. The tribunal followed the precedent in Lands End Co-operative Housing Society Ltd, which upheld similar exemption claims for interest from cooperative banks. The CIT(A)'s order was set aside, and the Assessing Officer was directed to allow the deduction under section 80P(2)(d) for interest income from cooperative banks. en-us Fri, 31 Mar 2017 00:00:00 +0530 Tue, 22 Jul 2025 16:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277469 ITAT Mumbai allowed the assessee's claim for exemption under section 80P(2)(d) regarding interest earned from a cooperative bank. The CIT(A) had denied the claim, relying on precedents that were distinguished by the tribunal. The tribunal found the CIT(A)'s reliance on State Bank of India Employees Co-op Credit Supply Society Ltd case untenable, as it involved interest from State Bank of India, which is not a cooperative society. The tribunal followed the precedent in Lands End Co-operative Housing Society Ltd, which upheld similar exemption claims for interest from cooperative banks. The CIT(A)'s order was set aside, and the Assessing Officer was directed to allow the deduction under section 80P(2)(d) for interest income from cooperative banks. Case-Laws Income Tax Fri, 31 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277469