https://www.taxtmi.com/caselaws?id=774888 The ITAT Mumbai allowed the assessee's appeal regarding deduction under section 80P(2)(d) for interest received from cooperative banks including Saraswat Cooperative Bank, Cosmo Cooperative Bank and Mumbai District Central Cooperative Bank. The AO had denied the claim arguing these were not cooperative societies. The ITAT held that deduction under section 80P(2)(d) is available to cooperative societies on interest income from investments with cooperative banks, which are themselves cooperative societies. The tribunal relied on coordinate bench decisions and Gujarat HC ruling in Ashwin Kumar Urban Cooperative Society Ltd. case, directing the AO to allow the deduction. en-us Tue, 24 Jun 2025 00:00:00 +0530 Wed, 16 Jul 2025 08:17:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774888 The ITAT Mumbai allowed the assessee's appeal regarding deduction under section 80P(2)(d) for interest received from cooperative banks including Saraswat Cooperative Bank, Cosmo Cooperative Bank and Mumbai District Central Cooperative Bank. The AO had denied the claim arguing these were not cooperative societies. The ITAT held that deduction under section 80P(2)(d) is available to cooperative societies on interest income from investments with cooperative banks, which are themselves cooperative societies. The tribunal relied on coordinate bench decisions and Gujarat HC ruling in Ashwin Kumar Urban Cooperative Society Ltd. case, directing the AO to allow the deduction. Case-Laws Income Tax Tue, 24 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774888