https://www.taxtmi.com/caselaws?id=441106 The appeal against the order of the ld PCIT-12, Delhi for AY 2017-18 was allowed. The tribunal found that the appellant, a housing cooperative society, was entitled to deduction under Section 80P(2)(d) for interest income earned from deposits with banks for constructing residential flats. It was held that the appellant falls under the category of a cooperative society and not a cooperative bank, supporting the claim for deduction. The revisionary order under Section 263 was set aside, restoring the original assessment order for the year in question. en-us Mon, 31 Jul 2023 00:00:00 +0530 Tue, 01 Aug 2023 14:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441106 The appeal against the order of the ld PCIT-12, Delhi for AY 2017-18 was allowed. The tribunal found that the appellant, a housing cooperative society, was entitled to deduction under Section 80P(2)(d) for interest income earned from deposits with banks for constructing residential flats. It was held that the appellant falls under the category of a cooperative society and not a cooperative bank, supporting the claim for deduction. The revisionary order under Section 263 was set aside, restoring the original assessment order for the year in question. Case-Laws Income Tax Mon, 31 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441106