https://www.taxtmi.com/caselaws?id=770971 ITAT Kolkata allowed the appeal regarding deduction under section 80P(2)(a)(i) for interest income earned by a cooperative society. The tribunal held that interest income from statutory deposits made in compliance with Registrar of Cooperative Societies' directives qualifies for deduction. The decision was based on similar precedents and consistency principle, noting that CIT(A) had previously allowed identical claims in earlier assessment years. The tribunal directed the Assessing Officer to delete the addition made on account of interest income, setting aside the lower authority's order. en-us Tue, 13 May 2025 00:00:00 +0530 Mon, 19 May 2025 08:37:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770971 ITAT Kolkata allowed the appeal regarding deduction under section 80P(2)(a)(i) for interest income earned by a cooperative society. The tribunal held that interest income from statutory deposits made in compliance with Registrar of Cooperative Societies' directives qualifies for deduction. The decision was based on similar precedents and consistency principle, noting that CIT(A) had previously allowed identical claims in earlier assessment years. The tribunal directed the Assessing Officer to delete the addition made on account of interest income, setting aside the lower authority's order. Case-Laws Income Tax Tue, 13 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770971