https://www.taxtmi.com/caselaws?id=438141 A co-operative housing society's interest income from investments with another co-operative society was treated as eligible for deduction, because section 80P(2)(d) extends to income by way of interest or dividends derived from such investments. The earlier reliance on section 80P(2)(a)(i) and surplus-fund cases was held inapplicable, and the restriction in section 80P(4) was not applied to deny the deduction on these facts. A co-operative bank was regarded as falling within the expression co-operative society for this purpose, so the disallowance was deleted. 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 A co-operative housing society's interest income from investments with another co-operative society was treated as eligible for deduction, because section 80P(2)(d) extends to income by way of interest or dividends derived from such investments. The earlier reliance on section 80P(2)(a)(i) and surplus-fund cases was held inapplicable, and the restriction in section 80P(4) was not applied to deny the deduction on these facts. A co-operative bank was regarded as falling within the expression co-operative society for this purpose, so the disallowance was deleted. Case-Laws Income Tax Thu, 27 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438141