https://www.taxtmi.com/caselaws?id=312591 ITAT Mumbai allowed deduction under section 80P(2)(d) to a cooperative housing society for interest income received from cooperative banks. The tribunal relied on judicial precedents, particularly the SC decision in Kerala State Cooperative Agricultural Rural Development Bank Ltd case, which established that cooperative societies earning interest on deposits with cooperative banks are eligible for this deduction. The tribunal set aside the CIT(A) order and directed the AO to allow the deduction claim, ruling in favor of the assessee. en-us Mon, 06 Nov 2023 00:00:00 +0530 Mon, 26 Feb 2024 18:11:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312591 ITAT Mumbai allowed deduction under section 80P(2)(d) to a cooperative housing society for interest income received from cooperative banks. The tribunal relied on judicial precedents, particularly the SC decision in Kerala State Cooperative Agricultural Rural Development Bank Ltd case, which established that cooperative societies earning interest on deposits with cooperative banks are eligible for this deduction. The tribunal set aside the CIT(A) order and directed the AO to allow the deduction claim, ruling in favor of the assessee. Case-Laws Income Tax Mon, 06 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312591