https://www.taxtmi.com/caselaws?id=429413 A co-operative society may claim deduction under section 80P(2)(d) on interest income from investments with another co-operative society, and the same reasoning was applied to interest from deposits with a co-operative bank. Section 80P(4) does not defeat such a claim because it excludes deduction for co-operative banks as assessees, not for a co-operative society receiving interest income. The Supreme Court ruling on section 80P(2)(a)(i) was treated as inapplicable, since that provision concerns surplus funds and not deduction under section 80P(2)(d). en-us Fri, 30 Sep 2022 00:00:00 +0530 Thu, 27 Oct 2022 15:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429413 A co-operative society may claim deduction under section 80P(2)(d) on interest income from investments with another co-operative society, and the same reasoning was applied to interest from deposits with a co-operative bank. Section 80P(4) does not defeat such a claim because it excludes deduction for co-operative banks as assessees, not for a co-operative society receiving interest income. The Supreme Court ruling on section 80P(2)(a)(i) was treated as inapplicable, since that provision concerns surplus funds and not deduction under section 80P(2)(d). Case-Laws Income Tax Fri, 30 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429413