https://www.taxtmi.com/caselaws?id=783372 ITAT allowed the assessee-co-operative society's appeal, holding that interest income earned from investments with a district co-operative bank qualifies for deduction under s. 80P(2)(d) of the IT Act. Relying on binding jurisdictional HC precedent, the Tribunal treated the co-operative bank as a co-operative society for purposes of s. 80P(2)(d), and rejected the Revenue's stand that interest from a co-operative bank is not eligible for such deduction. Consequently, the disallowance made by the AO and sustained by lower authorities was set aside and the deduction was directed to be granted. en-us Thu, 27 Nov 2025 00:00:00 +0530 Mon, 15 Dec 2025 08:39:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783372 ITAT allowed the assessee-co-operative society's appeal, holding that interest income earned from investments with a district co-operative bank qualifies for deduction under s. 80P(2)(d) of the IT Act. Relying on binding jurisdictional HC precedent, the Tribunal treated the co-operative bank as a co-operative society for purposes of s. 80P(2)(d), and rejected the Revenue's stand that interest from a co-operative bank is not eligible for such deduction. Consequently, the disallowance made by the AO and sustained by lower authorities was set aside and the deduction was directed to be granted. Case-Laws Income Tax Thu, 27 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783372