https://www.taxtmi.com/caselaws?id=756460 ITAT Surat held that cooperative society was entitled to deduction under section 80P(2)(d) for interest income earned from scheduled bank deposits. The tribunal followed precedent from Gujarat HC in Surat Vankar Sahakari Sangh Ltd. and its own decision in Vishal Co-operative Housing Services Society Limited, ruling that cooperative banks are primarily cooperative societies and interest earned on deposits with them qualifies for deduction under section 80P(2)(d). Decision favored the assessee. en-us Thu, 30 May 2024 00:00:00 +0530 Fri, 02 Aug 2024 08:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756460 ITAT Surat held that cooperative society was entitled to deduction under section 80P(2)(d) for interest income earned from scheduled bank deposits. The tribunal followed precedent from Gujarat HC in Surat Vankar Sahakari Sangh Ltd. and its own decision in Vishal Co-operative Housing Services Society Limited, ruling that cooperative banks are primarily cooperative societies and interest earned on deposits with them qualifies for deduction under section 80P(2)(d). Decision favored the assessee. Case-Laws Income Tax Thu, 30 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756460