https://www.taxtmi.com/caselaws?id=438141 The tribunal allowed the appeal filed by the cooperative society, holding that it is eligible for deduction under section 80P(2)(d) of the Income Tax Act for interest income earned from investments in cooperative banks or societies. The tribunal relied on precedents and clarified that a cooperative society, not being a cooperative bank, is entitled to such deductions. The decision emphasized that interest received from a cooperative bank is eligible for deduction, distinguishing it from interest on surplus funds. en-us Thu, 27 Apr 2023 00:00:00 +0530 Wed, 24 May 2023 09:20:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438141 The tribunal allowed the appeal filed by the cooperative society, holding that it is eligible for deduction under section 80P(2)(d) of the Income Tax Act for interest income earned from investments in cooperative banks or societies. The tribunal relied on precedents and clarified that a cooperative society, not being a cooperative bank, is entitled to such deductions. The decision emphasized that interest received from a cooperative bank is eligible for deduction, distinguishing it from interest on surplus funds. Case-Laws Income Tax Thu, 27 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438141