https://www.taxtmi.com/caselaws?id=429478 A co-operative society was entitled to deduction under section 80P(2)(d) on interest income from investments made with another co-operative society, including a co-operative bank, because the provision was read as covering interest or dividend derived from such investments. The contrary reliance on Totgars was rejected as distinguishable since it concerned section 80P(2)(a)(i) and surplus funds, not deduction under section 80P(2)(d). The tribunal followed earlier coordinate bench decisions and held that a co-operative bank falls within the expression "co-operative society" for this purpose. en-us Fri, 30 Sep 2022 00:00:00 +0530 Fri, 28 Oct 2022 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429478 A co-operative society was entitled to deduction under section 80P(2)(d) on interest income from investments made with another co-operative society, including a co-operative bank, because the provision was read as covering interest or dividend derived from such investments. The contrary reliance on Totgars was rejected as distinguishable since it concerned section 80P(2)(a)(i) and surplus funds, not deduction under section 80P(2)(d). The tribunal followed earlier coordinate bench decisions and held that a co-operative bank falls within the expression "co-operative society" for this purpose. Case-Laws Income Tax Fri, 30 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429478