https://www.taxtmi.com/caselaws?id=754663 Deduction under section 80P(2)(d) is available only for interest derived from deposits or investments with a co-operative society, while section 80P(4) excludes a co-operative bank from the deduction regime. The distinction depends on whether the recipient entity is in fact a co-operative society or has become a co-operative bank by carrying on banking business within the banking law framework. Where the nature of the deposit recipient is not conclusively established, the claim cannot be allowed without verification. The matter is therefore to be examined on facts to determine the recipient's status before deduction is granted. en-us Wed, 17 Jan 2024 00:00:00 +0530 Thu, 27 Jun 2024 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754663 Deduction under section 80P(2)(d) is available only for interest derived from deposits or investments with a co-operative society, while section 80P(4) excludes a co-operative bank from the deduction regime. The distinction depends on whether the recipient entity is in fact a co-operative society or has become a co-operative bank by carrying on banking business within the banking law framework. Where the nature of the deposit recipient is not conclusively established, the claim cannot be allowed without verification. The matter is therefore to be examined on facts to determine the recipient's status before deduction is granted. Case-Laws Income Tax Wed, 17 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754663