https://www.taxtmi.com/caselaws?id=432205 The tribunal allowed the assessee's appeal, rejecting the Revenue's disallowance of deductions under sections 80P(2)(a)(i) and 80P(2)(d). It held that the assessee, registered as a credit cooperative society, is eligible for exemption of income received from cooperative banks under section 80P(2)(d). Interest income earned by the appellant society on investments with cooperative banks, considered cooperative societies, is exempt. The Assessing Officer was directed to allow the deduction under section 80P(2)(d), and the appeal was allowed on 28th December 2022. en-us Wed, 28 Dec 2022 00:00:00 +0530 Fri, 30 Dec 2022 09:53:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432205 The tribunal allowed the assessee's appeal, rejecting the Revenue's disallowance of deductions under sections 80P(2)(a)(i) and 80P(2)(d). It held that the assessee, registered as a credit cooperative society, is eligible for exemption of income received from cooperative banks under section 80P(2)(d). Interest income earned by the appellant society on investments with cooperative banks, considered cooperative societies, is exempt. The Assessing Officer was directed to allow the deduction under section 80P(2)(d), and the appeal was allowed on 28th December 2022. Case-Laws Income Tax Wed, 28 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432205