https://www.taxtmi.com/caselaws?id=465257 ITAT allowed the appeal of the assessee co-operative society, holding it entitled to deduction under s. 80P(2)(d) on interest and dividend income received from a co-op bank. The AO's reclassification of such income as "Income from other sources" was held irrelevant for the purpose of s. 80P(2)(d). Relying on the binding precedent of the jurisdictional HC, the Tribunal held that deduction is allowable on the gross interest received from the co-op bank, without netting off any interest paid, and directed the AO to grant the deduction. en-us Wed, 20 Dec 2023 00:00:00 +0530 Thu, 11 Dec 2025 17:18:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465257 ITAT allowed the appeal of the assessee co-operative society, holding it entitled to deduction under s. 80P(2)(d) on interest and dividend income received from a co-op bank. The AO's reclassification of such income as "Income from other sources" was held irrelevant for the purpose of s. 80P(2)(d). Relying on the binding precedent of the jurisdictional HC, the Tribunal held that deduction is allowable on the gross interest received from the co-op bank, without netting off any interest paid, and directed the AO to grant the deduction. Case-Laws Income Tax Wed, 20 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465257