https://www.taxtmi.com/caselaws?id=447240 Interest income from a Regional Rural Bank was treated as ineligible for deduction under section 80P(2)(d) because, applying section 22 of the Regional Rural Banks Act, 1976, the later Supreme Court scope of section 80P, and the distinction created by section 80P(4), the bank was not regarded as a co-operative society for that purpose. Interest from a Central Cooperative Bank, however, remained deductible under section 80P(2)(d), and the appellate deletion on that component was sustained. The result was a split treatment of interest income depending on the character of the recipient bank. en-us Mon, 16 Oct 2023 00:00:00 +0530 Wed, 20 Dec 2023 17:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447240 Interest income from a Regional Rural Bank was treated as ineligible for deduction under section 80P(2)(d) because, applying section 22 of the Regional Rural Banks Act, 1976, the later Supreme Court scope of section 80P, and the distinction created by section 80P(4), the bank was not regarded as a co-operative society for that purpose. Interest from a Central Cooperative Bank, however, remained deductible under section 80P(2)(d), and the appellate deletion on that component was sustained. The result was a split treatment of interest income depending on the character of the recipient bank. Case-Laws Income Tax Mon, 16 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447240