https://www.taxtmi.com/caselaws?id=402127 The Appellate Tribunal allowed the deduction claimed by a Cooperative Society under section 80P(2)(d) of the Income Tax Act for interest income derived from investments with Co-operative Banks. The Tribunal held that such interest income is eligible for deduction, emphasizing that as long as the income is derived from investments made with any other Cooperative Society, the deduction is valid. The decision was based on a thorough analysis of legal provisions, precedents, and conflicting High Court decisions, ultimately aligning with decisions of the Karnataka and Gujarat High Courts on similar issues. en-us Tue, 24 Nov 2020 00:00:00 +0530 Wed, 23 Dec 2020 14:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402127 The Appellate Tribunal allowed the deduction claimed by a Cooperative Society under section 80P(2)(d) of the Income Tax Act for interest income derived from investments with Co-operative Banks. The Tribunal held that such interest income is eligible for deduction, emphasizing that as long as the income is derived from investments made with any other Cooperative Society, the deduction is valid. The decision was based on a thorough analysis of legal provisions, precedents, and conflicting High Court decisions, ultimately aligning with decisions of the Karnataka and Gujarat High Courts on similar issues. Case-Laws Income Tax Tue, 24 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402127