https://www.taxtmi.com/caselaws?id=769934 ITAT Pune ruled in favor of the assessee cooperative society regarding deduction under Section 80P(2)(a)(i) for interest income from investments. The AO had disallowed the entire deduction while CIT(A) allowed it partially. The tribunal held that interest income from both cooperative and non-cooperative banks qualifies for deduction under Section 80P(2) as it relates to the society's business activities. The tribunal set aside CIT(A)'s order and allowed the full deduction claimed by the assessee. en-us Wed, 30 Apr 2025 00:00:00 +0530 Sat, 03 May 2025 08:34:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769934 ITAT Pune ruled in favor of the assessee cooperative society regarding deduction under Section 80P(2)(a)(i) for interest income from investments. The AO had disallowed the entire deduction while CIT(A) allowed it partially. The tribunal held that interest income from both cooperative and non-cooperative banks qualifies for deduction under Section 80P(2) as it relates to the society's business activities. The tribunal set aside CIT(A)'s order and allowed the full deduction claimed by the assessee. Case-Laws Income Tax Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769934