https://www.taxtmi.com/caselaws?id=457094 ITAT Mumbai allowed the assessee's appeal regarding disallowance of deduction under section 80P(2)(d) for interest earned on fixed deposits in a cooperative bank. The Tribunal held that interest on fixed deposits placed with cooperative banks qualifies for deduction under section 80P(2)(d). The decision followed consistent precedent, citing a recent ruling where similar deduction claims were allowed for cooperative societies earning interest from cooperative banks. en-us Tue, 17 Jan 2023 00:00:00 +0530 Thu, 05 Sep 2024 21:28:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457094 ITAT Mumbai allowed the assessee's appeal regarding disallowance of deduction under section 80P(2)(d) for interest earned on fixed deposits in a cooperative bank. The Tribunal held that interest on fixed deposits placed with cooperative banks qualifies for deduction under section 80P(2)(d). The decision followed consistent precedent, citing a recent ruling where similar deduction claims were allowed for cooperative societies earning interest from cooperative banks. Case-Laws Income Tax Tue, 17 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457094