https://www.taxtmi.com/caselaws?id=773639 The ITAT Rajkot held that interest income received by a cooperative society from investments with other cooperative banks qualifies for deduction under section 80P(2)(d). Following the precedent established in Shri Avadh Nagarik Sahkari Mandli Ltd., the tribunal ruled that such interest income is deductible. The revenue failed to present any material evidence to challenge this position. The assessee's appeals were allowed, confirming the availability of the deduction for cooperative societies earning interest from cooperative banks. en-us Thu, 08 May 2025 00:00:00 +0530 Thu, 26 Jun 2025 08:35:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773639 The ITAT Rajkot held that interest income received by a cooperative society from investments with other cooperative banks qualifies for deduction under section 80P(2)(d). Following the precedent established in Shri Avadh Nagarik Sahkari Mandli Ltd., the tribunal ruled that such interest income is deductible. The revenue failed to present any material evidence to challenge this position. The assessee's appeals were allowed, confirming the availability of the deduction for cooperative societies earning interest from cooperative banks. Case-Laws Income Tax Thu, 08 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773639