https://www.taxtmi.com/caselaws?id=776353 The ITAT Ahmedabad held that the assessee is not entitled to deduction under section 80P(2)(d) on interest income earned from fixed deposits with Bank of Baroda. However, the assessee is eligible for deduction on interest income from fixed deposits with Ahmedabad District Cooperative Bank, a cooperative society. Relying on judicial precedents, including a recent Gujarat HC decision, the tribunal allowed deduction for interest earned from investments in cooperative banks. The appeal was partly allowed accordingly. en-us Wed, 06 Aug 2025 00:00:00 +0530 Fri, 08 Aug 2025 05:20:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776353 The ITAT Ahmedabad held that the assessee is not entitled to deduction under section 80P(2)(d) on interest income earned from fixed deposits with Bank of Baroda. However, the assessee is eligible for deduction on interest income from fixed deposits with Ahmedabad District Cooperative Bank, a cooperative society. Relying on judicial precedents, including a recent Gujarat HC decision, the tribunal allowed deduction for interest earned from investments in cooperative banks. The appeal was partly allowed accordingly. Case-Laws Income Tax Wed, 06 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776353