https://www.taxtmi.com/caselaws?id=309360 The Tribunal allowed the assessee's appeal, holding that interest earned from cooperative banks is eligible for deduction under section 80P(2)(d) of the Income Tax Act. The matter was remanded to the Assessing Officer for fresh consideration in line with previous decisions favoring cooperative societies. The Tribunal directed the AO to allow expenditure incurred in earning interest income from commercial banks under section 57. The appeal was allowed for statistical purposes, with the order pronounced on 18th May 2023. en-us Thu, 18 May 2023 00:00:00 +0530 Sun, 27 Aug 2023 11:39:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309360 The Tribunal allowed the assessee's appeal, holding that interest earned from cooperative banks is eligible for deduction under section 80P(2)(d) of the Income Tax Act. The matter was remanded to the Assessing Officer for fresh consideration in line with previous decisions favoring cooperative societies. The Tribunal directed the AO to allow expenditure incurred in earning interest income from commercial banks under section 57. The appeal was allowed for statistical purposes, with the order pronounced on 18th May 2023. Case-Laws Income Tax Thu, 18 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309360