https://www.taxtmi.com/caselaws?id=773882 The Tribunal allowed the assessee's appeal regarding deduction under section 80P(2)(d) for interest income of Rs. 17,51,124 earned from deposits with Pune District Central Cooperative Bank Ltd. The Tribunal held that PDCC, being registered under Maharashtra Cooperative Societies Act, 1960, qualifies as a Cooperative Society despite holding a banking license. Following consistent precedents, the Tribunal ruled that Cooperative Banks remain Cooperative Societies for section 80P(2)(d) purposes, making interest income from such deposits eligible for deduction. The CIT(A)'s order denying the deduction was set aside. en-us Mon, 16 Jun 2025 00:00:00 +0530 Mon, 30 Jun 2025 08:43:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773882 The Tribunal allowed the assessee's appeal regarding deduction under section 80P(2)(d) for interest income of Rs. 17,51,124 earned from deposits with Pune District Central Cooperative Bank Ltd. The Tribunal held that PDCC, being registered under Maharashtra Cooperative Societies Act, 1960, qualifies as a Cooperative Society despite holding a banking license. Following consistent precedents, the Tribunal ruled that Cooperative Banks remain Cooperative Societies for section 80P(2)(d) purposes, making interest income from such deposits eligible for deduction. The CIT(A)'s order denying the deduction was set aside. Case-Laws Income Tax Mon, 16 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773882