https://www.taxtmi.com/caselaws?id=772850 In this tax case before the Tribunal, the key issue was the allowability of deduction under section 80P(2)(d) for interest income from Cooperative Banks. The Tribunal held that Cooperative Banks, despite having banking licenses, remain Cooperative Societies eligible for tax deduction. Rejecting procedural objections, the Tribunal allowed the deduction, citing consistent precedents and emphasizing the legislative intent to support cooperative entities. en-us Wed, 07 May 2025 00:00:00 +0530 Sat, 14 Jun 2025 06:47:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772850 In this tax case before the Tribunal, the key issue was the allowability of deduction under section 80P(2)(d) for interest income from Cooperative Banks. The Tribunal held that Cooperative Banks, despite having banking licenses, remain Cooperative Societies eligible for tax deduction. Rejecting procedural objections, the Tribunal allowed the deduction, citing consistent precedents and emphasizing the legislative intent to support cooperative entities. Case-Laws Income Tax Wed, 07 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772850