https://www.taxtmi.com/caselaws?id=782759 A co-operative society's interest income from investments with co-operative banks was held to remain eligible for deduction under section 80P(2)(d). The Court applied the principle that section 80P(4) excludes only co-operative banks functioning as banks and does not deny the section 80P(2)(d) benefit to a co-operative society. Relying on binding precedent, it found the reassessment notice, the section 148A(3) order and the section 148A(1) show-cause notices unsustainable because they proceeded on the contrary view. The assessee's challenge therefore succeeded and the reopening action was quashed. en-us Tue, 25 Nov 2025 00:00:00 +0530 Wed, 03 Dec 2025 08:57:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782759 A co-operative society's interest income from investments with co-operative banks was held to remain eligible for deduction under section 80P(2)(d). The Court applied the principle that section 80P(4) excludes only co-operative banks functioning as banks and does not deny the section 80P(2)(d) benefit to a co-operative society. Relying on binding precedent, it found the reassessment notice, the section 148A(3) order and the section 148A(1) show-cause notices unsustainable because they proceeded on the contrary view. The assessee's challenge therefore succeeded and the reopening action was quashed. Case-Laws Income Tax Tue, 25 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782759