https://www.taxtmi.com/caselaws?id=773516 Interest earned by a co-operative society from deposits and investments with co-operative banks was examined under section 80P(2)(d) of the Income-tax Act. The Tribunal held that the deduction applies only to interest or dividend derived from investments with another co-operative society, and that a co-operative bank is a distinct entity treated at par with a bank for the exclusion under section 80P(4). It further applied strict construction of exemption provisions and rejected reliance on registration under State co-operative law alone. The interest was therefore held not deductible under section 80P(2)(d), and the Revenue's objection to deletion of the addition was accepted. en-us Wed, 18 Jun 2025 00:00:00 +0530 Tue, 24 Jun 2025 08:25:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773516 Interest earned by a co-operative society from deposits and investments with co-operative banks was examined under section 80P(2)(d) of the Income-tax Act. The Tribunal held that the deduction applies only to interest or dividend derived from investments with another co-operative society, and that a co-operative bank is a distinct entity treated at par with a bank for the exclusion under section 80P(4). It further applied strict construction of exemption provisions and rejected reliance on registration under State co-operative law alone. The interest was therefore held not deductible under section 80P(2)(d), and the Revenue's objection to deletion of the addition was accepted. Case-Laws Income Tax Wed, 18 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773516