https://www.taxtmi.com/caselaws?id=376360 Interest derived by a co-operative society from deposits with another co-operative society, including a co-operative bank, may qualify for deduction under section 80P(2)(d), provided the recipient answers that statutory description and the deduction is computed on net interest after attributable expenses. The wider restriction in section 80P(4) does not, on this analysis, take away the benefit otherwise available under section 80P(2)(d), and mutuality is not treated as a controlling limitation for that clause. Interest from a private bank does not qualify under section 80P(2)(d) because the recipient is not another co-operative society, and it is also not allowable on the facts under section 80P(2)(a)(i). en-us Thu, 28 Feb 2019 00:00:00 +0530 Thu, 07 Mar 2019 12:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376360 Interest derived by a co-operative society from deposits with another co-operative society, including a co-operative bank, may qualify for deduction under section 80P(2)(d), provided the recipient answers that statutory description and the deduction is computed on net interest after attributable expenses. The wider restriction in section 80P(4) does not, on this analysis, take away the benefit otherwise available under section 80P(2)(d), and mutuality is not treated as a controlling limitation for that clause. Interest from a private bank does not qualify under section 80P(2)(d) because the recipient is not another co-operative society, and it is also not allowable on the facts under section 80P(2)(a)(i). Case-Laws Income Tax Thu, 28 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376360