https://www.taxtmi.com/caselaws?id=778813 Interest income from investments with a co-operative society may qualify for deduction under section 80P(2)(d), but the exclusion in section 80P(4) applies where the recipient is a co-operative bank engaged in banking business within section 5(b) of the Banking Regulation Act. The claim therefore turned on the factual status of the recipient institutions, and that status had to be verified before any final determination. The matter was remanded to the Assessing Officer for verification of whether the entities from which interest was received were co-operative banks carrying on banking business, and the deduction claim was left open for reconsideration. en-us Tue, 21 Jan 2025 00:00:00 +0530 Mon, 22 Sep 2025 11:52:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778813 Interest income from investments with a co-operative society may qualify for deduction under section 80P(2)(d), but the exclusion in section 80P(4) applies where the recipient is a co-operative bank engaged in banking business within section 5(b) of the Banking Regulation Act. The claim therefore turned on the factual status of the recipient institutions, and that status had to be verified before any final determination. The matter was remanded to the Assessing Officer for verification of whether the entities from which interest was received were co-operative banks carrying on banking business, and the deduction claim was left open for reconsideration. Case-Laws Income Tax Tue, 21 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778813