https://www.taxtmi.com/caselaws?id=770890 ITAT Bangalore allowed the assessee society's appeal regarding deduction under Section 80P(2)(d) for interest income from scheduled and co-operative banks. The tribunal held that despite having nominal members without profit-sharing rights or voting powers, the society remained entitled to deductions under Section 80P(2)(a)(i). The court set aside CIT(A)'s remand order for bifurcating interest income and granted deductions under both Section 80P(2)(a)(i) and 80P(2)(d). The decision applied to assessment years 2015-16 through 2018-19, with all appeals allowed in favor of the assessee. en-us Wed, 30 Apr 2025 00:00:00 +0530 Sat, 17 May 2025 08:39:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770890 ITAT Bangalore allowed the assessee society's appeal regarding deduction under Section 80P(2)(d) for interest income from scheduled and co-operative banks. The tribunal held that despite having nominal members without profit-sharing rights or voting powers, the society remained entitled to deductions under Section 80P(2)(a)(i). The court set aside CIT(A)'s remand order for bifurcating interest income and granted deductions under both Section 80P(2)(a)(i) and 80P(2)(d). The decision applied to assessment years 2015-16 through 2018-19, with all appeals allowed in favor of the assessee. Case-Laws Income Tax Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770890