https://www.taxtmi.com/caselaws?id=442528 The Tribunal held that interest income earned by a cooperative society from investments in cooperative banks qualifies for deduction under section 80P(2)(d) of the Income Tax Act. The Tribunal differentiated income from cooperative banks and commercial banks, directing that interest from commercial banks should be considered under 'income from other sources.' This decision aligns with precedents and the interpretation of the Hon'ble Supreme Court and Hon'ble High Courts, supporting cooperative societies' eligibility for the deduction. en-us Tue, 18 Jul 2023 00:00:00 +0530 Sat, 02 Sep 2023 11:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442528 The Tribunal held that interest income earned by a cooperative society from investments in cooperative banks qualifies for deduction under section 80P(2)(d) of the Income Tax Act. The Tribunal differentiated income from cooperative banks and commercial banks, directing that interest from commercial banks should be considered under 'income from other sources.' This decision aligns with precedents and the interpretation of the Hon'ble Supreme Court and Hon'ble High Courts, supporting cooperative societies' eligibility for the deduction. Case-Laws Income Tax Tue, 18 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442528