https://www.taxtmi.com/highlights?id=75104 Denial of deduction claimed u/s 80P (2)(d) - AO disallowed the benefit by invoking the provision of section 154 for rectification of mistake change of opinion - interest derived by the Co-operative society from its investments with any other co-operative society - The ITAT held that considering the provisions of section 22 of Regional Rural Bank Act, wherein the status of the banks established are of the co-operative society the assessee is entitled for the exemption on the interest earned on the deposits. - The allowability of deduction of interest u/s. 80P(2)(d) decided in favour of assessee on merit itslef. en-us Thu, 22 Feb 2024 08:20:41 +0530 Thu, 22 Feb 2024 08:20:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=75104 Denial of deduction claimed u/s 80P (2)(d) - AO disallowed the benefit by invoking the provision of section 154 for rectification of mistake change of opinion - interest derived by the Co-operative society from its investments with any other co-operative society - The ITAT held that considering the provisions of section 22 of Regional Rural Bank Act, wherein the status of the banks established are of the co-operative society the assessee is entitled for the exemption on the interest earned on the deposits. - The allowability of deduction of interest u/s. 80P(2)(d) decided in favour of assessee on merit itslef. Highlights Income Tax Thu, 22 Feb 2024 08:20:41 +0530 https://www.taxtmi.com/highlights?id=75104