https://www.taxtmi.com/caselaws?id=434503 The Tribunal allowed the appellant, a cooperative housing society, deductions under section 80P(2)(d) of the Income Tax Act for interest income from cooperative banks for the assessment years 2014-15 and 2015-16. The Tribunal held that interest income from cooperative banks qualifies for the deduction, distinguishing the Supreme Court's decision in Totgars Co-operative Sale Society Ltd. vs. ITO which pertained to a different provision. Citing rulings from Karnataka and Gujarat High Courts, the Tribunal directed the Assessing Officer to allow the deductions, ruling in favor of the appellant on 23.02.2023. en-us Thu, 23 Feb 2023 00:00:00 +0530 Sat, 25 Feb 2023 08:36:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434503 The Tribunal allowed the appellant, a cooperative housing society, deductions under section 80P(2)(d) of the Income Tax Act for interest income from cooperative banks for the assessment years 2014-15 and 2015-16. The Tribunal held that interest income from cooperative banks qualifies for the deduction, distinguishing the Supreme Court's decision in Totgars Co-operative Sale Society Ltd. vs. ITO which pertained to a different provision. Citing rulings from Karnataka and Gujarat High Courts, the Tribunal directed the Assessing Officer to allow the deductions, ruling in favor of the appellant on 23.02.2023. Case-Laws Income Tax Thu, 23 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434503