https://www.taxtmi.com/caselaws?id=461417 ITAT Mumbai held that a co-operative housing society was entitled to deduction under Section 80P(2)(d) for interest income from co-operative banks. The tribunal distinguished the SC decision in Totgars Cooperative Sale Society Ltd., noting that Section 80P(2)(d) uses "any income by way of interest" rather than "profits and gains of business" as in Section 80P(2)(a). The deduction was allowed for interest from co-operative banks but denied for savings bank interest of INR 41,446. The appeal was partly allowed with the addition deleted. en-us Wed, 30 Mar 2022 00:00:00 +0530 Fri, 04 Apr 2025 21:41:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461417 ITAT Mumbai held that a co-operative housing society was entitled to deduction under Section 80P(2)(d) for interest income from co-operative banks. The tribunal distinguished the SC decision in Totgars Cooperative Sale Society Ltd., noting that Section 80P(2)(d) uses "any income by way of interest" rather than "profits and gains of business" as in Section 80P(2)(a). The deduction was allowed for interest from co-operative banks but denied for savings bank interest of INR 41,446. The appeal was partly allowed with the addition deleted. Case-Laws Income Tax Wed, 30 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461417