https://www.taxtmi.com/caselaws?id=411792 The appeals filed by the co-operative society were allowed for statistical purposes. The issue of denial of deduction under section 80P(2)(a)(i) was remanded back to the Assessing Officer for fresh examination based on the interpretation of the term "members" as per the respective co-operative societies Act. Regarding the treatment of interest income for deduction under section 80P(2)(d), the Tribunal ruled that interest earned from investments in co-operative societies is eligible for deduction, while interest from other banks is not. The matter was sent back to the Ld. AO to verify and grant the appropriate deduction. en-us Mon, 30 Aug 2021 00:00:00 +0530 Fri, 03 Sep 2021 09:06:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411792 The appeals filed by the co-operative society were allowed for statistical purposes. The issue of denial of deduction under section 80P(2)(a)(i) was remanded back to the Assessing Officer for fresh examination based on the interpretation of the term "members" as per the respective co-operative societies Act. Regarding the treatment of interest income for deduction under section 80P(2)(d), the Tribunal ruled that interest earned from investments in co-operative societies is eligible for deduction, while interest from other banks is not. The matter was sent back to the Ld. AO to verify and grant the appropriate deduction. Case-Laws Income Tax Mon, 30 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411792