https://www.taxtmi.com/caselaws?id=779283 Interest earned by a co-operative society from deposits with a co-operative bank does not qualify for deduction under section 80P(2)(d) because a co-operative bank, though organised as a co-operative society, is engaged in banking business and is excluded from the benefit of section 80P by section 80P(4), save for limited statutory exceptions. On that construction, a co-operative bank cannot be treated as "any other co-operative society" for section 80P(2)(d). Interest from deposits with a commercial bank also falls outside the deduction. The authorities cited by the assessee were distinguished on the basis that they did not decide the effect of section 80P(4) in the same context. en-us Mon, 20 Jan 2025 00:00:00 +0530 Fri, 03 Oct 2025 08:30:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779283 Interest earned by a co-operative society from deposits with a co-operative bank does not qualify for deduction under section 80P(2)(d) because a co-operative bank, though organised as a co-operative society, is engaged in banking business and is excluded from the benefit of section 80P by section 80P(4), save for limited statutory exceptions. On that construction, a co-operative bank cannot be treated as "any other co-operative society" for section 80P(2)(d). Interest from deposits with a commercial bank also falls outside the deduction. The authorities cited by the assessee were distinguished on the basis that they did not decide the effect of section 80P(4) in the same context. Case-Laws Income Tax Mon, 20 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779283