https://www.taxtmi.com/caselaws?id=778394 Interest earned by a co-operative society from deposits or investments with a co-operative bank is deductible under section 80P(2)(d) where the recipient is itself a co-operative society and the income is derived from qualifying investments. Section 80P(4) restricts deduction for co-operative banks, but it does not, by itself, bar a co-operative society from claiming deduction on such interest income. The discussion also notes that denial of the deduction could not be sustained in rectification proceedings under section 154 where the claim was otherwise covered by the applicable judicial view. en-us Thu, 16 Jan 2025 00:00:00 +0530 Sat, 13 Sep 2025 12:18:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778394 Interest earned by a co-operative society from deposits or investments with a co-operative bank is deductible under section 80P(2)(d) where the recipient is itself a co-operative society and the income is derived from qualifying investments. Section 80P(4) restricts deduction for co-operative banks, but it does not, by itself, bar a co-operative society from claiming deduction on such interest income. The discussion also notes that denial of the deduction could not be sustained in rectification proceedings under section 154 where the claim was otherwise covered by the applicable judicial view. Case-Laws Income Tax Thu, 16 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778394