https://www.taxtmi.com/caselaws?id=462517 ITAT Cochin held that a cooperative society is entitled to deduction under section 80P(2)(d) for interest and dividend income from cooperative banks, following Kerala HC precedent in Peroorkada Service Cooperative Bank Ltd. The society is also eligible for deduction under section 80P(2)(a)(i) for income from business exclusively with members. Matter remanded to AO for fresh consideration with directions to examine proper bifurcation of eligible income under both provisions. Assessee's appeal allowed. en-us Tue, 10 Dec 2024 00:00:00 +0530 Fri, 27 Jun 2025 19:01:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462517 ITAT Cochin held that a cooperative society is entitled to deduction under section 80P(2)(d) for interest and dividend income from cooperative banks, following Kerala HC precedent in Peroorkada Service Cooperative Bank Ltd. The society is also eligible for deduction under section 80P(2)(a)(i) for income from business exclusively with members. Matter remanded to AO for fresh consideration with directions to examine proper bifurcation of eligible income under both provisions. Assessee's appeal allowed. Case-Laws Income Tax Tue, 10 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462517