https://www.taxtmi.com/caselaws?id=292459 The tribunal ruled in favor of the cooperative society, allowing the deduction under section 80P(2)(d) of the Income Tax Act for interest income earned from cooperative banks. The tribunal held that cooperative banks are considered cooperative societies for the purposes of this section, emphasizing that interest income from cooperative banks qualifies for the deduction. The tribunal overturned the decisions of the lower authorities and concluded that the provisions of section 80P(2)(d) are clear in this regard, with the decision pronounced on July 26, 2019. en-us Fri, 26 Jul 2019 00:00:00 +0530 Fri, 25 Dec 2020 09:34:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292459 The tribunal ruled in favor of the cooperative society, allowing the deduction under section 80P(2)(d) of the Income Tax Act for interest income earned from cooperative banks. The tribunal held that cooperative banks are considered cooperative societies for the purposes of this section, emphasizing that interest income from cooperative banks qualifies for the deduction. The tribunal overturned the decisions of the lower authorities and concluded that the provisions of section 80P(2)(d) are clear in this regard, with the decision pronounced on July 26, 2019. Case-Laws Income Tax Fri, 26 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292459