https://www.taxtmi.com/caselaws?id=295089 The Tribunal held that interest income earned by a co-operative housing society from investments in co-operative banks qualifies for deduction under section 80P(2)(d) of the Income Tax Act, 1961. The Tribunal emphasized that co-operative banks fall within the definition of a "co-operative society" under the Act, and the insertion of section 80P(4) does not affect the eligibility of co-operative societies to claim such deductions. The appeal was allowed, overturning the disallowance by the Assessing Officer and the decision of the Commissioner of Income Tax (Appeals). en-us Thu, 23 Aug 2018 00:00:00 +0530 Wed, 19 May 2021 08:37:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295089 The Tribunal held that interest income earned by a co-operative housing society from investments in co-operative banks qualifies for deduction under section 80P(2)(d) of the Income Tax Act, 1961. The Tribunal emphasized that co-operative banks fall within the definition of a "co-operative society" under the Act, and the insertion of section 80P(4) does not affect the eligibility of co-operative societies to claim such deductions. The appeal was allowed, overturning the disallowance by the Assessing Officer and the decision of the Commissioner of Income Tax (Appeals). Case-Laws Income Tax Thu, 23 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295089