https://www.taxtmi.com/caselaws?id=427085 The tribunal reversed the PCIT's revision directions and allowed the assessee's appeal, determining that interest income from deposits in co-operative banks is eligible for deduction under Section 80P(2)(d) of the Income Tax Act, 1961. The tribunal emphasized that as long as the interest income is derived from investments made with any co-operative society, the deduction is applicable. The AO was directed to re-examine the deduction claim with proper verification and allowing the assessee to present evidence. The order was pronounced in Open Court on 29th August 2022. en-us Mon, 29 Aug 2022 00:00:00 +0530 Wed, 31 Aug 2022 11:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427085 The tribunal reversed the PCIT's revision directions and allowed the assessee's appeal, determining that interest income from deposits in co-operative banks is eligible for deduction under Section 80P(2)(d) of the Income Tax Act, 1961. The tribunal emphasized that as long as the interest income is derived from investments made with any co-operative society, the deduction is applicable. The AO was directed to re-examine the deduction claim with proper verification and allowing the assessee to present evidence. The order was pronounced in Open Court on 29th August 2022. Case-Laws Income Tax Mon, 29 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427085