https://www.taxtmi.com/caselaws?id=776775 ITAT, Bangalore allowed the assessee's claim under s.80P(2)(d), directing the AO to grant deduction for interest income received from other co-operative societies. Relying on the Supreme Court's three-judge rulings, the Tribunal held that interest or dividend earned from co-operative societies qualifies for full deduction as promoting the co-operative movement, and the s.80P(4) prohibition did not apply to the assessee. The AO's finding that the income was from co-operative societies was accepted and the disallowance was reversed. en-us Mon, 11 Aug 2025 00:00:00 +0530 Tue, 19 Aug 2025 08:38:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776775 ITAT, Bangalore allowed the assessee's claim under s.80P(2)(d), directing the AO to grant deduction for interest income received from other co-operative societies. Relying on the Supreme Court's three-judge rulings, the Tribunal held that interest or dividend earned from co-operative societies qualifies for full deduction as promoting the co-operative movement, and the s.80P(4) prohibition did not apply to the assessee. The AO's finding that the income was from co-operative societies was accepted and the disallowance was reversed. Case-Laws Income Tax Mon, 11 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776775