https://www.taxtmi.com/caselaws?id=779283 ITAT held the appellant's appeal dismissed. The Tribunal ruled that cooperative banks have been placed on par with commercial banks for Income-tax purposes, so interest or dividend received from a co-operative bank is not deductible under s.80P(2)(d); s.80P(4) and Part V of the Banking Regulation Act bar treating a co-operative bank as a member society and defeat mutuality. The CIT(A)'s disallowance of interest from the state co-operative bank and a commercial bank was confirmed and all grounds of appeal regarding those interest receipts were dismissed. 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 ITAT held the appellant's appeal dismissed. The Tribunal ruled that cooperative banks have been placed on par with commercial banks for Income-tax purposes, so interest or dividend received from a co-operative bank is not deductible under s.80P(2)(d); s.80P(4) and Part V of the Banking Regulation Act bar treating a co-operative bank as a member society and defeat mutuality. The CIT(A)'s disallowance of interest from the state co-operative bank and a commercial bank was confirmed and all grounds of appeal regarding those interest receipts were dismissed. Case-Laws Income Tax Mon, 20 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779283