https://www.taxtmi.com/caselaws?id=751132 The ITAT Mumbai held that a cooperative society was entitled to deduction under Section 80P(2)(d) for interest income earned from other cooperative banks/societies, following established precedents. Regarding club house income and expenditure, the tribunal applied the principle of mutuality, recognizing that as a housing cooperative society providing services exclusively to members, related expenses should be allowed against such income. The AO was directed to permit expenses against club house income under the mutuality concept, and the assessee's grounds were allowed. en-us Fri, 05 Apr 2024 00:00:00 +0530 Mon, 08 Apr 2024 08:52:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751132 The ITAT Mumbai held that a cooperative society was entitled to deduction under Section 80P(2)(d) for interest income earned from other cooperative banks/societies, following established precedents. Regarding club house income and expenditure, the tribunal applied the principle of mutuality, recognizing that as a housing cooperative society providing services exclusively to members, related expenses should be allowed against such income. The AO was directed to permit expenses against club house income under the mutuality concept, and the assessee's grounds were allowed. Case-Laws Income Tax Fri, 05 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751132