https://www.taxtmi.com/caselaws?id=312585 The ITAT Mumbai held that interest income earned from a cooperative bank is eligible for deduction under Section 80P(2)(d). The tribunal ruled that since the provision allows deduction for interest income from investments made with other cooperative societies, and following precedents from the SC in Totagars Cooperative Sale Society and Kerala HC in PCIT vs. Percoorkada Service Co. Bank Ltd., the assessee's claim for deduction was valid. The appeal was decided in favor of the assessee. en-us Wed, 17 May 2023 00:00:00 +0530 Mon, 26 Feb 2024 18:11:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312585 The ITAT Mumbai held that interest income earned from a cooperative bank is eligible for deduction under Section 80P(2)(d). The tribunal ruled that since the provision allows deduction for interest income from investments made with other cooperative societies, and following precedents from the SC in Totagars Cooperative Sale Society and Kerala HC in PCIT vs. Percoorkada Service Co. Bank Ltd., the assessee's claim for deduction was valid. The appeal was decided in favor of the assessee. Case-Laws Income Tax Wed, 17 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312585