https://www.taxtmi.com/caselaws?id=773422 ITAT Pune allowed deduction u/s 80P(2)(a)(i) for interest earned by cooperative society from nominal/B class members. Revenue disallowed the deduction arguing nominal members were not covered under the provision. ITAT held that under Maharashtra Cooperative Societies Act, 1960, "members" includes nominal members as per section 2(19) definition. Following SC precedent in Mavilayi Service Co-operative Bank Ltd., ITAT ruled the society was eligible for deduction on interest income from nominal members for AY 2017-18. en-us Fri, 30 May 2025 00:00:00 +0530 Mon, 23 Jun 2025 08:42:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773422 ITAT Pune allowed deduction u/s 80P(2)(a)(i) for interest earned by cooperative society from nominal/B class members. Revenue disallowed the deduction arguing nominal members were not covered under the provision. ITAT held that under Maharashtra Cooperative Societies Act, 1960, "members" includes nominal members as per section 2(19) definition. Following SC precedent in Mavilayi Service Co-operative Bank Ltd., ITAT ruled the society was eligible for deduction on interest income from nominal members for AY 2017-18. Case-Laws Income Tax Fri, 30 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773422