https://www.taxtmi.com/caselaws?id=461800 Interest earned by a co-operative society from fixed deposits and other investments placed with co-operative banks is deductible under section 80P(2)(d) of the Income-tax Act, 1961. The Tribunal applied the Supreme Court's position that a co-operative bank is a co-operative society for this purpose, and that section 80P(4) does not bar deduction where the income is interest from such investments. Following that legal position and coordinate bench decisions, the interest income was held eligible for deduction and the disallowance was deleted. en-us Thu, 06 Mar 2025 00:00:00 +0530 Tue, 29 Apr 2025 18:59:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461800 Interest earned by a co-operative society from fixed deposits and other investments placed with co-operative banks is deductible under section 80P(2)(d) of the Income-tax Act, 1961. The Tribunal applied the Supreme Court's position that a co-operative bank is a co-operative society for this purpose, and that section 80P(4) does not bar deduction where the income is interest from such investments. Following that legal position and coordinate bench decisions, the interest income was held eligible for deduction and the disallowance was deleted. Case-Laws Income Tax Thu, 06 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461800