https://www.taxtmi.com/caselaws?id=783152 ITAT Chennai held that the assessee, a co-operative society, is entitled to deduction under s.80P(2)(d) in respect of interest income earned from deposits with Villupuram District Central Cooperative Bank. Based on a certificate issued by the Deputy Registrar of Co-operative Societies, the Tribunal found that the bank is registered as a Co-operative Central Bank under s.9 of the Tamil Nadu Co-operative Societies Act, 1983, and therefore qualifies as a "co-operative society" for the purposes of s.80P(2)(d). The objection that the bank was not a co-operative society was rejected. The order of the FAA allowing the deduction was upheld and the appeal was decided in favour of the assessee. en-us Fri, 28 Nov 2025 00:00:00 +0530 Wed, 10 Dec 2025 08:42:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783152 ITAT Chennai held that the assessee, a co-operative society, is entitled to deduction under s.80P(2)(d) in respect of interest income earned from deposits with Villupuram District Central Cooperative Bank. Based on a certificate issued by the Deputy Registrar of Co-operative Societies, the Tribunal found that the bank is registered as a Co-operative Central Bank under s.9 of the Tamil Nadu Co-operative Societies Act, 1983, and therefore qualifies as a "co-operative society" for the purposes of s.80P(2)(d). The objection that the bank was not a co-operative society was rejected. The order of the FAA allowing the deduction was upheld and the appeal was decided in favour of the assessee. Case-Laws Income Tax Fri, 28 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783152