https://www.taxtmi.com/caselaws?id=431753 The Tribunal ruled in favor of the assessee, a cooperative housing society, allowing the deduction under section 80P(2)(d) of the Income Tax Act for interest income from deposits with cooperative banks. The decision was based on the distinction between income from cooperative banks and scheduled banks, emphasizing that the income must be closely linked to providing credit facilities to members to qualify for the deduction. The Tribunal's decision aligned with a previous judgment and was specific to the facts of the case, granting the assessee the benefit of the deduction. en-us Thu, 01 Dec 2022 00:00:00 +0530 Tue, 20 Dec 2022 18:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431753 The Tribunal ruled in favor of the assessee, a cooperative housing society, allowing the deduction under section 80P(2)(d) of the Income Tax Act for interest income from deposits with cooperative banks. The decision was based on the distinction between income from cooperative banks and scheduled banks, emphasizing that the income must be closely linked to providing credit facilities to members to qualify for the deduction. The Tribunal's decision aligned with a previous judgment and was specific to the facts of the case, granting the assessee the benefit of the deduction. Case-Laws Income Tax Thu, 01 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431753