https://www.taxtmi.com/caselaws?id=420673 Interest earned by a co-operative society from surplus funds invested with a co-operative bank was treated as deductible under Section 80P(2)(d) of the Income-tax Act because the provision covers income derived from investments with another co-operative society, and the deposits with a co-operative bank were regarded as qualifying investments for that purpose. The reliance on Totgars Co-operative Sales Society Ltd. did not defeat the claim, as that decision was considered relevant to Section 80P(2)(a)(i) and not determinative of a deduction claim under Section 80P(2)(d). The disallowance was set aside and the deduction was allowed. en-us Mon, 04 Apr 2022 00:00:00 +0530 Thu, 07 Apr 2022 10:01:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420673 Interest earned by a co-operative society from surplus funds invested with a co-operative bank was treated as deductible under Section 80P(2)(d) of the Income-tax Act because the provision covers income derived from investments with another co-operative society, and the deposits with a co-operative bank were regarded as qualifying investments for that purpose. The reliance on Totgars Co-operative Sales Society Ltd. did not defeat the claim, as that decision was considered relevant to Section 80P(2)(a)(i) and not determinative of a deduction claim under Section 80P(2)(d). The disallowance was set aside and the deduction was allowed. Case-Laws Income Tax Mon, 04 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420673