https://www.taxtmi.com/caselaws?id=458520 ITAT Pune allowed the appellant cooperative society's claim for deduction under sections 80P(2)(a)(i) and 80P(2)(d) regarding interest income earned from cooperative banks. The Tribunal relied on a coordinate bench decision and held that interest income earned by cooperative societies on deposits made from surplus funds with both cooperative banks and scheduled banks qualifies for deduction under the specified provisions. The lower authorities' reasoning was rejected, and the AO was directed to allow the deductions. en-us Thu, 06 Jun 2024 00:00:00 +0530 Tue, 24 Jun 2025 15:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458520 ITAT Pune allowed the appellant cooperative society's claim for deduction under sections 80P(2)(a)(i) and 80P(2)(d) regarding interest income earned from cooperative banks. The Tribunal relied on a coordinate bench decision and held that interest income earned by cooperative societies on deposits made from surplus funds with both cooperative banks and scheduled banks qualifies for deduction under the specified provisions. The lower authorities' reasoning was rejected, and the AO was directed to allow the deductions. Case-Laws Income Tax Thu, 06 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458520