https://www.taxtmi.com/caselaws?id=776829 Interest earned by a co-operative housing society from deposits or investments with co-operative banks is treated as income from investments with another co-operative society for section 80P(2)(d). Section 80P(4) excludes co-operative banks from claiming deduction in their own right, but it does not prevent a co-operative society from claiming deduction on interest received from such banks. The interpretive rule favouring the assessee where two reasonable constructions of a taxing provision are possible supports this reading, so the interest income qualifies for deduction and the disallowance is unsustainable. en-us Tue, 07 Jan 2025 00:00:00 +0530 Wed, 20 Aug 2025 08:34:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776829 Interest earned by a co-operative housing society from deposits or investments with co-operative banks is treated as income from investments with another co-operative society for section 80P(2)(d). Section 80P(4) excludes co-operative banks from claiming deduction in their own right, but it does not prevent a co-operative society from claiming deduction on interest received from such banks. The interpretive rule favouring the assessee where two reasonable constructions of a taxing provision are possible supports this reading, so the interest income qualifies for deduction and the disallowance is unsustainable. Case-Laws Income Tax Tue, 07 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776829