https://www.taxtmi.com/caselaws?id=429469 The Tribunal allowed the assessee's appeals, ruling that the Co-operative Housing Society was entitled to claim a deduction under section 80P(2)(d) of the Income Tax Act for interest income from deposits with Co-operative Banks. The Tribunal clarified that section 80P(4) did not preclude such deductions for Co-operative Societies, other than Co-operative Banks, and emphasized that interest income from investments with Co-operative Banks qualified for the deduction. Despite conflicting decisions from various High Courts, the Tribunal favored the assessee's position and granted the deduction for both assessment years. en-us Thu, 29 Sep 2022 00:00:00 +0530 Fri, 28 Oct 2022 10:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429469 The Tribunal allowed the assessee's appeals, ruling that the Co-operative Housing Society was entitled to claim a deduction under section 80P(2)(d) of the Income Tax Act for interest income from deposits with Co-operative Banks. The Tribunal clarified that section 80P(4) did not preclude such deductions for Co-operative Societies, other than Co-operative Banks, and emphasized that interest income from investments with Co-operative Banks qualified for the deduction. Despite conflicting decisions from various High Courts, the Tribunal favored the assessee's position and granted the deduction for both assessment years. Case-Laws Income Tax Thu, 29 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429469