https://www.taxtmi.com/caselaws?id=463742 ITAT allowed deduction under section 80P(2)(d) for interest received from co-operative banks. Interest from a nationalized bank was held not allowable under section 80P(2)(a)(i), but the matter was remitted to the AO to verify and allow proportionate expenditure attributable to that interest, with opportunity of hearing. The tribunal also directed allowance of the basic Rs.50,000 deduction under section 80P(2)(c) to the co-operative society. en-us Thu, 05 Dec 2024 00:00:00 +0530 Sat, 13 Sep 2025 19:35:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463742 ITAT allowed deduction under section 80P(2)(d) for interest received from co-operative banks. Interest from a nationalized bank was held not allowable under section 80P(2)(a)(i), but the matter was remitted to the AO to verify and allow proportionate expenditure attributable to that interest, with opportunity of hearing. The tribunal also directed allowance of the basic Rs.50,000 deduction under section 80P(2)(c) to the co-operative society. Case-Laws Income Tax Thu, 05 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463742