https://www.taxtmi.com/caselaws?id=767838 ITAT Pune held that cooperative society was entitled to deduction under Section 80P(2)(d) for interest income from fixed deposits with cooperative banks. The Tribunal ruled that cooperative banks, despite having banking licenses, remain cooperative societies and therefore qualify for the deduction. Following consistent precedent from coordinate benches, the Tribunal set aside CIT(A)'s findings and directed AO to allow the assessee's claim, holding that interest income from cooperative bank investments is eligible for full deduction under Section 80P(2)(d). en-us Mon, 24 Mar 2025 00:00:00 +0530 Tue, 24 Jun 2025 15:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767838 ITAT Pune held that cooperative society was entitled to deduction under Section 80P(2)(d) for interest income from fixed deposits with cooperative banks. The Tribunal ruled that cooperative banks, despite having banking licenses, remain cooperative societies and therefore qualify for the deduction. Following consistent precedent from coordinate benches, the Tribunal set aside CIT(A)'s findings and directed AO to allow the assessee's claim, holding that interest income from cooperative bank investments is eligible for full deduction under Section 80P(2)(d). Case-Laws Income Tax Mon, 24 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767838