https://www.taxtmi.com/caselaws?id=448549 The ITAT ruled in favor of the assessee, a co-operative society, allowing the appeal related to the deduction claim under section 80P(2)(d) of the Income Tax Act for AY 2018-19. The Tribunal determined that interest income earned from a registered co-operative bank, which is a member of the co-operative society, qualifies for the deduction. The ITAT rejected the Revenue's interpretation, affirming that co-operative banks associated with co-operative societies are eligible for this deduction. The appeal was allowed, and the order was pronounced on January 19, 2024. en-us Fri, 19 Jan 2024 00:00:00 +0530 Sat, 20 Jan 2024 12:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448549 The ITAT ruled in favor of the assessee, a co-operative society, allowing the appeal related to the deduction claim under section 80P(2)(d) of the Income Tax Act for AY 2018-19. The Tribunal determined that interest income earned from a registered co-operative bank, which is a member of the co-operative society, qualifies for the deduction. The ITAT rejected the Revenue's interpretation, affirming that co-operative banks associated with co-operative societies are eligible for this deduction. The appeal was allowed, and the order was pronounced on January 19, 2024. Case-Laws Income Tax Fri, 19 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448549