https://www.taxtmi.com/caselaws?id=464498 ITAT held that the assessee, a primary co-operative society, is entitled to deduction under s.80P(2)(d) for interest on deposits with co-operative banks that are registered as co-operative societies. Relying on prior ITAT and SC reasoning that s.80P(4) does not apply to co-operative banks not governed by the Banking Regulation Act, the Tribunal found the Principal Commissioner's revision under s.263 unjustified and allowed the assessee's appeals, permitting exemption of the interest income. en-us Fri, 24 Jan 2025 00:00:00 +0530 Sat, 01 Nov 2025 19:40:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464498 ITAT held that the assessee, a primary co-operative society, is entitled to deduction under s.80P(2)(d) for interest on deposits with co-operative banks that are registered as co-operative societies. Relying on prior ITAT and SC reasoning that s.80P(4) does not apply to co-operative banks not governed by the Banking Regulation Act, the Tribunal found the Principal Commissioner's revision under s.263 unjustified and allowed the assessee's appeals, permitting exemption of the interest income. Case-Laws Income Tax Fri, 24 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464498