https://www.taxtmi.com/caselaws?id=279815 The ITAT Mumbai held that a cooperative society can claim deduction under Section 80P(2)(d) for interest income received from cooperative banks. Despite cooperative banks being disqualified from claiming Section 80P deductions after insertion of Sub-section (4), they remain cooperative societies registered under relevant acts. The tribunal relied on SC precedent in Totgars Cooperative Sale Society Limited case, ruling that interest income earned by cooperative societies on investments with cooperative banks qualifies for deduction under Section 80P(2)(d). The decision favored the assessee. en-us Wed, 25 Apr 2018 00:00:00 +0530 Mon, 23 Jun 2025 16:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279815 The ITAT Mumbai held that a cooperative society can claim deduction under Section 80P(2)(d) for interest income received from cooperative banks. Despite cooperative banks being disqualified from claiming Section 80P deductions after insertion of Sub-section (4), they remain cooperative societies registered under relevant acts. The tribunal relied on SC precedent in Totgars Cooperative Sale Society Limited case, ruling that interest income earned by cooperative societies on investments with cooperative banks qualifies for deduction under Section 80P(2)(d). The decision favored the assessee. Case-Laws Income Tax Wed, 25 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279815