https://www.taxtmi.com/caselaws?id=424095 The Tribunal allowed the appeal, determining that the assessee is entitled to the deduction under Section 80P(2)(d) for interest received from TAICO Bank, classified as a Co-operative Society. The Tribunal held that interest income from investments in co-operative banks is deductible under Section 80P(2)(d), citing relevant judicial precedents. It emphasized the jurisdictional High Court's decision and disagreed with the Commissioner of Income Tax (Appeals)'s reliance on a different case. Consequently, the disallowance of Rs. 68,47,885/- was deleted. en-us Wed, 08 Jun 2022 00:00:00 +0530 Wed, 22 Jun 2022 09:14:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424095 The Tribunal allowed the appeal, determining that the assessee is entitled to the deduction under Section 80P(2)(d) for interest received from TAICO Bank, classified as a Co-operative Society. The Tribunal held that interest income from investments in co-operative banks is deductible under Section 80P(2)(d), citing relevant judicial precedents. It emphasized the jurisdictional High Court's decision and disagreed with the Commissioner of Income Tax (Appeals)'s reliance on a different case. Consequently, the disallowance of Rs. 68,47,885/- was deleted. Case-Laws Income Tax Wed, 08 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424095