https://www.taxtmi.com/caselaws?id=461605 ITAT PUNE allowed the appeal filed by a cooperative society regarding deduction under section 80P(2)(a)(i) and 80P(2)(d) for interest income on deposits made from surplus funds in cooperative and scheduled banks. The tribunal held that such interest income qualifies for deduction under both provisions, following the precedent set in The Ugar Sugar Works case decided by ITAT PANAJI. The reasoning of lower authorities denying the deduction was rejected, and the appeal was allowed in favor of the assessee society. en-us Thu, 25 May 2023 00:00:00 +0530 Tue, 24 Jun 2025 15:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461605 ITAT PUNE allowed the appeal filed by a cooperative society regarding deduction under section 80P(2)(a)(i) and 80P(2)(d) for interest income on deposits made from surplus funds in cooperative and scheduled banks. The tribunal held that such interest income qualifies for deduction under both provisions, following the precedent set in The Ugar Sugar Works case decided by ITAT PANAJI. The reasoning of lower authorities denying the deduction was rejected, and the appeal was allowed in favor of the assessee society. Case-Laws Income Tax Thu, 25 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461605