https://www.taxtmi.com/caselaws?id=449889 The ITAT Jodhpur allowed deduction u/s 80P(2)(d) for interest received by a co-operative society from investments with another co-operative society. The AO had disallowed the benefit through rectification u/s 154. The tribunal relied on precedent in ITO Vs. Bhilwara Zila Dugdh Utpadak Sahkari Sang Ltd., holding that Regional Rural Banks are deemed co-operative societies under section 22 of the Regional Rural Bank Act, making interest earned on deposits eligible for exemption under section 80P(2)(d). en-us Tue, 20 Feb 2024 00:00:00 +0530 Thu, 22 Feb 2024 07:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449889 The ITAT Jodhpur allowed deduction u/s 80P(2)(d) for interest received by a co-operative society from investments with another co-operative society. The AO had disallowed the benefit through rectification u/s 154. The tribunal relied on precedent in ITO Vs. Bhilwara Zila Dugdh Utpadak Sahkari Sang Ltd., holding that Regional Rural Banks are deemed co-operative societies under section 22 of the Regional Rural Bank Act, making interest earned on deposits eligible for exemption under section 80P(2)(d). Case-Laws Income Tax Tue, 20 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449889