https://www.taxtmi.com/caselaws?id=457064 ITAT Mumbai held that a cooperative housing society is entitled to deduction under Section 80P(2)(d) for interest income received from investments with a cooperative bank. The tribunal ruled that despite cooperative banks being excluded from claiming deductions under Section 80P(4), they remain cooperative societies under the Cooperative Societies Act. Therefore, interest income derived by a cooperative society from investments with cooperative banks qualifies for deduction under Section 80P(2)(d). The decision favored the assessee. en-us Mon, 05 Dec 2022 00:00:00 +0530 Wed, 04 Sep 2024 20:04:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457064 ITAT Mumbai held that a cooperative housing society is entitled to deduction under Section 80P(2)(d) for interest income received from investments with a cooperative bank. The tribunal ruled that despite cooperative banks being excluded from claiming deductions under Section 80P(4), they remain cooperative societies under the Cooperative Societies Act. Therefore, interest income derived by a cooperative society from investments with cooperative banks qualifies for deduction under Section 80P(2)(d). The decision favored the assessee. Case-Laws Income Tax Mon, 05 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457064