https://www.taxtmi.com/caselaws?id=463090 The ITAT Ahmedabad upheld the availability of deduction under section 80P(2)(d) for interest income earned by a cooperative society from investments in other cooperative banks, following the Gujarat HC precedent. Additionally, the tribunal confirmed the deletion of additions under section 68 related to unexplained loans and advances in the balance sheet, recognizing that such transactions are part of the cooperative society's regular business activities and are subject to statutory audit. Both appeals by the revenue were dismissed. en-us Tue, 18 Feb 2025 00:00:00 +0530 Tue, 05 Aug 2025 20:49:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463090 The ITAT Ahmedabad upheld the availability of deduction under section 80P(2)(d) for interest income earned by a cooperative society from investments in other cooperative banks, following the Gujarat HC precedent. Additionally, the tribunal confirmed the deletion of additions under section 68 related to unexplained loans and advances in the balance sheet, recognizing that such transactions are part of the cooperative society's regular business activities and are subject to statutory audit. Both appeals by the revenue were dismissed. Case-Laws Income Tax Tue, 18 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463090