https://www.taxtmi.com/caselaws?id=395102 Interest earned by a co-operative society from deposits with a district co-operative bank was treated as eligible for deduction under Section 80P. The Tribunal followed the jurisdictional High Court's view that a district co-operative bank, being a co-operative society engaged in banking, brings such interest income within the beneficial scope of the deduction available to co-operative societies. On that basis, the disallowance made by the lower authorities was found unsustainable and the assessee's deduction claim was allowed. en-us Thu, 20 Feb 2020 00:00:00 +0530 Wed, 06 Nov 2024 12:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395102 Interest earned by a co-operative society from deposits with a district co-operative bank was treated as eligible for deduction under Section 80P. The Tribunal followed the jurisdictional High Court's view that a district co-operative bank, being a co-operative society engaged in banking, brings such interest income within the beneficial scope of the deduction available to co-operative societies. On that basis, the disallowance made by the lower authorities was found unsustainable and the assessee's deduction claim was allowed. Case-Laws Income Tax Thu, 20 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395102